Karanovic & Nikolic

Serbia: privatisation law reformed — how can creditors protect their claims on companies in restructuring?

The Serbian Parliament has passed a new law amending the law on privatisation under urgent procedure. The new law entered into force on 13 May 2014.

These changes significantly affect the position of creditors of companies undergoing restructuring, since the ban on enforced collection against companies in restructuring has been prolonged for another 150 days and a new procedure has been prescribed — a procedure that every creditor must go through in order to eventually collect their claim.

The Constitutional Court has rendered a decision on setting aside the provision of the Privatisation Law that protected companies in restructuring from enforcement until 30 June 2014…

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