Trade and Commercial Law Assessment - Honduras - Economic ...

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TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS BANKRUPTCY No. Type Recommendation Priority Duration 1. Legal reform The law of insolvency must be extensively amended, taking into account the concepts, principles and rules included in modern bankruptcy laws such as those promulgated recently in Eastern Europe and other recent national laws of insolvency. In particular, new laws should provide for a discharge from all debts upon completion of bankruptcy and should do away with the concept of blame for the bankrupt debtor. High Long term 2. Legal reform A new law of Civil and Commercial Procedures and a new law of Garantías Reales Mobiliarias, both of which take account of and harmonize with insolvency law reforms, should be passed. The Honduran Supreme Court currently has before it a draft of a reform Code of Procedures, which should be carefully reviewed with an eye to eliminating the delays and bottlenecks in current judicial enforcement of commercial laws, including insolvency. Likewise, a draft law of garantías reales mobiliarias is circulating in congressional counsels’ circles and could soon come forward for consideration, but it needs to be carefully vetted to make sure that it conforms with the principles of the OAS Model Law on Secured Transactions. High Near term 3. Institutional reform Extensive reforms of the Honduran judicial system and courts are needed, beginning with the selection of judges in such a way that capable jurists may make a career of the judiciary. Only then can any meaningful training take place, making it possible to build judicial competence in applying insolvency laws and other commercial laws. Additionally, programs for training of judicial officials are needed as well. Attachment 1, pg. 6 High Long term
TRADE AND COMMERCIAL LAW ASSESSMENT DECEMBER 2004 HONDURAS COMPETITION No. Type Recommendation Priority Duration 1. Assessment/ With a view towards regional convergence/harmonization, consider carefully the High Short-term Legal Drafting/ competition laws of Mexico and Panama; consult with the drafting committees in Legal Reform El Salvador, Guatemala, and Nicaragua. Consider comments made by private sector representatives, including those made by Cámara de Comercio e Industria de Tegucigalpa and Consejo Hondureño de la Empresa Privada. Consider comments on the current draft made by international experts, including those made by the World Bank and the U.S. antitrust authorities. Revise and circulate a new draft based on these comments and on the on-going experiences of regional efforts. 2. Outreach/ Consider promoting passage and implementation of a competition law through a High Short-term Education twofold strategy: • Develop a series of seminars to promote private sector support, focusing on recent experiences, for example, in the telecommunications sector, regional initiatives, etc. • Develop a series of seminars to educate the Legislative Assembly about competition law. o As a first step, prepare an advocacy brochure for the Deputies who will vote on the Bill, explaining in clear, basic language the principle purposes of a competition law in the Honduran context, drawing on examples from previous studies. o Hold a two day training seminar for the Legislative Assembly, bringing in foreign experts from the region (including at least one expert from Mexico.) 3. Institutional Develop a policy strategy to make the law operational, including institutional Medium Long-term Capacity arrangements (e.g., staffing and training). Building Develop an enforcement strategy that focuses on investigating anticompetitive conduct in sectors that are important to consumers and that address Honduran market failures. Attachment 1, pg. 7
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