According to provisions of the Law on amendments to the Law on deadlines for settlement of financaial liabilities in commercial transactions, from 01 March 2018 the creditors shall be obliged to register in the Central Registry of Invoices issued invoices and other payment requests in commercial transactions in which public sector entities are debtors, before their delivering to debtors.
The subject to editing of the Law on deadlines for settlement of financaial liabilities in commercial transactions was expanded by adopted amendments, according to the new paragraph 2 of Article 1 of the Law on deadlines for settlement of financaial liabilities in commercial transactions, which reads:
’’This Law shall additionally regulate the registration of invoices and other requests for payments issued by the creditors in commercial transactions between the public sector and the economic operators, i.e. between the public sector operators, in which the public sector operators are debtors.’’ Continue reading Registration invoices in comercial transactions
Bankruptcy proceedings, within the meaning of the Law on Bankruptcy, shall be insolvency or reorganisation.
Insolvency shall mean creditor satisfaction through the sale of entire assets of the bankruptcy debtor, or the sale of the bankruptcy debtor as a legal entity.
Reorganisation shall mean creditor satisfaction accomplished under the adopted plan of reorganisation by redefining relations between the debtor and the creditor or the debtor’s legal status, or in another manner provided for in the plan.
The aim of the both ways of implementing bankruptcy shall be to ensure the most favourable collective settlement of bankruptcy creditors
According to provisions of the Law on Banckruptcy and the Law on Enforcement and Security Interest the adopted reorganisation plan in bankruptcy procedure, confirmed by a court ruling shall have the force of enforceable document. Continue reading Reorganisation plan as a enforceable document
Provisions of the Law on Enforcement and Security Interest regulate the procedure in which courts and public enforcement officers conduct the compulsory collection of enforceable creditors’ claims based on enforceable and credible documents(enforcement proceedings), the procedure for putting a lien on claims and the status of public enforcement officers.
Enforcement proceedings and security interest proceedings are initiated by a judgment creditor filing a motion for the enforcement based on enforceable or credible document or a motion for security interest, or ex officio only when so provided for by the law.
A court decides on the motion for enforcement based on enforceable or credible document and on the motion for security interest. Continue reading Enforceable and credible document as ground for rendering of decision on execution