When Arbitration Meets Insolvency in Montenegro – Can They Coexist?

Even at first blush, it is apparent that arbitration and insolvency make strange bedfellows.

The reason they make such an odd couple is the different underlying policies, objectives, and purposes they stand for. The heart of arbitration lies at the privity of contract and the existence of party autonomy independent from the state. In contrast, insolvency reflects a centralized and to a certain extent state-managed procedure that holds all creditors equal, within a set system of ranking – a transparent and accountable process governed by mandatory substantive and procedural law provisions. read more…

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