The organisers of the Conference thank the following for their support Conference Sponsor Academic Forum SponsorConference Supporter Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili

Kosovo Insolvency Capacity Building Project Anthon Verweij, University of Leiden

Why is a legal framework on Insolvency necessary? Focus point for commercial law (Paulus) Provides certainty in the market which stimulates economic stability and growth (Legislative Guide) Crucial safeguard and anchor for stability of a country’s financial health (Financial Stability Board)

Global sources for legal framework on Insolvency 1999 IMF: Orderly & Effective Insolvency Procedure 2001 WB: Principles and Guidelines for Effective Insolvency and Creditor Rights Systems 2004 UNCITRAL: Legislative Guide on Insolvency Law 2005 WB: Revised Principles and Guidelines for Effective Insolvency and Creditor Rights Systems

“Implementation gap” Difference between enactment and implementation of legislative framework (Halliday) Importance of a well-developed institutional framework (Legislative Guide) Successful implementation requires various measures beyond the establishment of an appropriate legislative framework: –Adequate institutional infrastructure –Organizational capacity –Technical professional expertise –Appropriate human and financial resources (Legislative Guide) Beyond the scope of sources for legal framework on Insolvency?

Capacity building and it’s aims Key to promoting economic growth. (IMF) UNDP: “Process through which individuals, organizations and societies obtain, strengthen and maintain the capabilities to set and achieve their own development objectives over time” (Capacity Development Practice Note) Key points: –Country ownership of development and sustainability is considered critical to the success. –Long-term process (Capacity Development Practice Note) –Looks beyond individual skills and a focus on training –Prevent the “transplant effect” by drawing to heavily on international norms, foreign experiences and experts (Halliday)

Kosovo Kosovo’s economy small and highly open GDP per capita € per annum Economic growth 3% per annum in 2007/2008 Mostly small scale retail businesses and privatized SOEs Unemployment >40%

Kosovo Insolvency Capacity Building Project Privatization and liquidation SOEs and incorporation of POEs Project part of IPA program for Kosovo –IPA stands for the Instrument for Pre-accession Assistance program –Purpose to help Kosovo move towards European integration in the period Insolvency Profession new to Kosovo Importance of SCAAK

Kosovo Insolvency Capacity Building Project II Overall objective was to support revitalization of the economy of Kosovo Purpose project: –Development of insolvency practitioner qualification –Assistance to the Privatization Agency of Kosovo –Development of regulatory framework for insolvency practice in Kosovo

Role of Leiden University within the project Assessment and guidance on developed training materials for IP’s Training –4 Day seminar on Professional Insolvency Practice –Continuing Professional Development (CPD) Course Recommendations on medium to long term model for regulation of insolvency and insolvency professionals Assistance with outreach to both national and international bodies –Chamber of Advocates of Kosovo –Courts –INSOL International and INSOL Europe Partnership between SCAAK and Leiden University –Working towards signing of a MOU

Capacity building and INSOL Europe Capacity building within goals and objectives INSOL Europe and the Academic Forum Much to learn from the accountancy profession –International Federation of Accountants toolkit on Establishing and Developing a Professional Accountancy Body –Twinning (mentoring) Role Academic Forum –Training through seminars or CPD courses –Development of guidance document on institution-building for the insolvency profession in developing nations –Facilitator

References 1.Paulus, C.G., ( ), “Global Insolvency Law and the role of Multinational Institutions”, Brooklyn Journal of International Law, Volume 32, p Financial Stability Board: 3.UNICITRAL Legislative Guide on Insolvency Law 2004: IMF Orderly & Effective Insolvency Procedures 1999: WB Principles and Guidelines for Effective Insolvency and Creditor Rights Systems: contentMDK: ~menuPK:146205~pagePK: ~piPK:162156~theSi tePK:215006,00.html contentMDK: ~menuPK:146205~pagePK: ~piPK:162156~theSi tePK:215006,00.html 6.Halliday, T.C., ( ), “Legitimacy, Techonology, and Leverage:The Building Blocks of Insolvency Architecture in the Decade Past and the Decade Ahead”, Brooklyn Journal of International Law, Volume 32, p UNDP Capacity Development Practice Note: g/UNDP_Capacity_Development_Practice_Note_JULY_FINAL.pdf g/UNDP_Capacity_Development_Practice_Note_JULY_FINAL.pdf 8.Halliday, T.C., (2006), “Lawmaking and institution building in Asian Insolvency Reforms: between global norms and national circumstances”, OECD report on a lecture held at the Forum for Asian Insolvency Reform (FAIR) on April 2006

The organisers of the Conference thank the following for their support Conference Sponsor Academic Forum SponsorConference Supporter Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili

The organisers of the Conference thank the following for their support Conference Sponsor Academic Forum SponsorConference Supporter Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili

The organisers of the Conference thank the following for their support Conference Sponsor Academic Forum SponsorConference Supporter Consiglio Nazionale dei Dottori Commercialisti e degli Esperti Contabili