JPM Jankovic Popovic Mitic

Amendments and supplements to the Bankruptcy Law

The amendments and supplements to the Bankruptcy Law that were adopted by the National Assembly of the Republic of Serbia on 2 August 2014 came into force on 13 August 2014. The provisions regulating the manner of submission of receivers’ reports will be applied from 1 October 2014, and the provision regulating the publishing of court decisions and filings of receivers and other parties in the procedure on the court’s electronic notice board and delivery of court decisions to public registers will be applied from 1 January 2014.

The most important novelties introduced by the law on amendments and supplements to the Bankruptcy Law are: (a) ensuring additional transparency in conducting bankruptcy procedures; (b) advancement of the profession and status of receivers; (c) strengthening the position and active role of creditors in bankruptcy procedures; (d) ensuring efficiency in conducting bankruptcy procedures and shortening such procedures; (e) improving the provisions regulating the content of reorganisation plans, reorganisation measures and voting on reorganisations plans; and (f) regulating jurisdiction with regard to international bankruptcy and legal assistance provided after the recognition of a foreign procedure.

The amendments and supplements define the obligation of courts to publish documents on their notice boards and electronic notice boards on the day of rendering a decision and/or other document and to forward the decision and/or other documents to the necessary registers to be published on the relevant register’s website or in some other manner that enables the public to be informed…

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