Daily Archives: January 8, 2018

CHANGES TO THE BANKRUPTCY LAW

Changes to the Bankruptcy Law entered into force on 25 December 2017.

Key changes bring easier dismissal of bankruptcy administrator by the board of creditors, reduction of majority threshold for voting for bankruptcy on the first hearing, improved position of secured creditors, mandatory engagement of licensed evaluators, possibility to continue pending arbitration.

It is yet to be seen how Serbian courts will apply changes to the Bankruptcy Law and what will be the actual impact of changes to this complex and tricky area.