Intelligence

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

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.

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.

In May 2011 the Law on Consensual Financial Restructuring of the Companies (the Law) was enacted, bringing what appeared to be a new way out for the companies facing financial difficulties.

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