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
Write-off of receivables in the National Employment Service is regulated by Regulation on the write-off of receivables in the National Employment Service (“Official Herald of the Republic of Serbia”, No. 14/2014).
Write-off of receivables is the cessation of debtor-creditor relationship, by which the National Employment Service, as a creditor, written off receivables against the debtor under the conditions and in the manner prescribed by the Regulation.
The Regulation shall regulate:
- the reasons on which the receivables of the National Employment Service may be canceled
- the documentation which shall prove the fulfillment of the reasons for the write-off of receivables
- competence and procedure before the Commission for preparation of the proposals for write-off of the receivables
- competence of the sector / branch, and
- the deadlines for completion and submission of cases to the Commission, which, after deliberation, adopted Minute with the proposal for write off of the receivables shall submit to the Managing Board. Continue reading Write-off of receivables making in the National Employment Service