Attorney Dragana Djordjevic » "Settlement"

Obligations with several debtors or creditors

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The provisions of the Law on Obligations govern the requirements for fulfilling debts with several debtors or creditors. When fulfilling duties with many debtors or creditors, dividing obligations into divisible and indivisible is important because it determines mutual relations and obligations between debtors or creditors based on the execution of

Divisible obligations

Dividing an Obligation and a Claim

An obligation shall be divisible if what is owed can be divided and fulfilled into parts having the same features as the entire subject, and should what is divided lose nothing in value; otherwise, the obligation shall be indivisible.

Should several debtors exist in a divisible obligation, such obligation shall be divided between them in equal shares unless a different kind of division is determined, and each shall be liable for his share of the obligation. Continue reading Obligations with several debtors or creditors →

Collection of receivables from debtors in the blockade

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Under conditions of the global financial crisis increases the risk of debt uncollectability. The risk of this type primarily depends on the individual claims, payment terms, economic and political conditions in the country, as well as the solvency and creditworthiness of the debtor.

The occurence of the debtor’s inability to fulfill its financial obligations due to blockage of business accounts is one of the biggest risks, whose implementation may result in a debtor’s bankruptcy, but in some cases may represent a cause of the creditor’s bankruptcy.

Answers on some questions, concerning with the possibility of the collection of receivables from a debtor who has in the blockade you can find in this article.

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Legal consequences of a blocked accounts are regulated by the Law on performing payment of legal persons, entrepreneurs and natural persons who do not perform activities. Continue reading Collection of receivables from debtors in the blockade →

Enforceable and credible document as ground for rendering of decision on execution

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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 →