Procedural Measures in the Reorganization of Bankruptcy Debtor in Serbian Legislation
Procedural Measures in the Reorganization of Bankruptcy Debtor in Serbian Legislation

Author(s): Vladimir Čolović
Subject(s): Law, Constitution, Jurisprudence, Political economy, Financial Markets
Published by: Institut za uporedno pravo
Keywords: Reorganization; Reorganization Plan; forms of Reorganization; Bankruptcy Debtor; Creditors
Summary/Abstract: The Proceedings of reorganization of the Bankruptcy Debtor represent a new start in this matter. After applying such proceedings, the Bankruptcy Debtor can continue his/her activities. The Reorganization Plan is the basic document of that Reorganization. The Bankruptcy Proceedings Act of the Republic of Serbia regulates many forms of Reorganization. Some of them are the main part of the Plan and include all possibilities for the continuation of the work of the Bankruptcy Debtor as well as solutions for payment of the Creditors' claims. Some of these forms include: keeping of all property of the Bankruptcy Debtor, sale of his/her property or transfer of the property for the settlement of the Creditors, closing some of the departments of the Bankruptcy Debtor or the change of Debtor’s activities, etc. As a rule, the Reorganization Plan consists of several forms of Reorganization. The Creditors decide on the Reorganization Plan, but the application of the Plan depends also on the status of the Bankruptcy Debtor.

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