Attorney Dragana Djordjevic » "Law on Enforcement and Security Interest" (3)

Issuing a payment order

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Payment order shall be issued in special proceeding which is governed by the provisions of Articles from 455 to 466 of Civil Procedure Law.

Conditions for Issuing Payment Orders

When a civil claim is related to a pecuniary claim which is due, this claim shall be proven by a credible document enclosed with the complaint either as an original document or a certified transcript, the court shall issue an order to the respondent to settle the claim (payment order) on condition that it is accompanied by a proof on delivered request for payment due receivables.

The following shall be considered as credible documents:

  • public documents
  • private documents where the signature of the debtor is certified by a competent body
  • promissory notes and cheques with protest and return accounts if these are required for the foundation of the claim
  • extracts from business accounts
  • invoices
  • documents which are deemed as public documents pursuant to specific provisions Continue reading Issuing a payment order →

Reorganisation plan as a enforceable document

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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 →

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 →