The global pandemic has left local economies shaken.

The new Law on Bankruptcy (Zakon o stečaju, Official Gazette of the Republic of Serbia, n.104/09) was enacted on 11 December 2009.

As of 13 August 2014, the amendments and supplements to the Insolvency Act [Zakon o stečaju] are in force, published in the Official Gazette of RS no. 83/2014.

Since 1 September 2015 natural persons in Hungary have a way to settle debts under the law.

The adoption of the Financial Collateral Act (FCA) in 2018 was widely regarded as a great addition to Serbia's financial law infrastructure.

The Serbian Insolvency Act (Official Gazette of RS nos. 104/2009, 99/2011, 71/2012) introduced international insolvency rules in Serbia, enabling recognition of foreign insolvency proceeding in Serbia.

The Amendments and Supplements to the Insolvency Act introduces changes aimed to allow for more efficient realisation of insolvency creditors' claims.

The recently adopted Montenegrin Law on Prevention of Illegal Business introduces a number of new concepts in the process of fiscal consolidation and combating grey market.

At the beginning of February 2015, the Parliament of the Republic of Serbia adopted a set of banking-related laws.

This article appeared in the 2012 edition of The International Comparative Legal Guide to: Corporate Recovery & Insolvency; published by Global Legal Group Ltd , London.