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Manual for trustees in bankruptcy presented
Belgrade,
26 May 2006
Serbian Minister of Economy Predrag Bubalo presented today "The Manual for Trustees in Bankruptcy", published by the Serbian Agency for Licencing Trustees in Bankruptcy, which contains all necessary practical and theoretical information on bankruptcy procedure. It is intended both for managers and lawyers.
Speaking at a news conference at the Serbian government, Bubalo said that this manual is an important novelty in Serbia's legal system because from now on bankruptcy proceedings will be conducted only by licenced trustees in bankruptcy, whose task is to speed up the process and make it as efficient as possible.
The Minister specified that the manual contains the entire legal subject matter from the field of economics such as the founding, privatisation and closing of economic subjects, tax legislation and economic reform laws such as the Law on companies, the Law on foreign investment, the Law on bankruptcy procedure, the Law on value added tax, the Law on mortgage and so on.
The Minister of Economy said that the Agency will be charged with monitoring their work and taking away their licences.
President of the Higher Commercial Court Radomir Lazarevic said that the Law on bankruptcy procedure imposes greater responsibility on trustees in bankruptcy and added that the manual is intended for judges, lawyers and auditors.
Editor of the manual Nebojsa Jovanovic said that the book contains detailed and concrete examples for the work of trustees in bankruptcy and added that it has been made in a luxurious format of 1,100 pages.
At this moment, 951 bankruptcy proceedings are being conducted in Serbia, of which 197 proceedings are being conducted in line with the new law. Some 55% of all cases are being brought before the Belgrade Commercial Court.
Out of a total of 357 persons who have passed the examination for trustee in bankruptcy, only 239 have the licence.
The Minister specified that the manual contains the entire legal subject matter from the field of economics such as the founding, privatisation and closing of economic subjects, tax legislation and economic reform laws such as the Law on companies, the Law on foreign investment, the Law on bankruptcy procedure, the Law on value added tax, the Law on mortgage and so on.
The Minister of Economy said that the Agency will be charged with monitoring their work and taking away their licences.
President of the Higher Commercial Court Radomir Lazarevic said that the Law on bankruptcy procedure imposes greater responsibility on trustees in bankruptcy and added that the manual is intended for judges, lawyers and auditors.
Editor of the manual Nebojsa Jovanovic said that the book contains detailed and concrete examples for the work of trustees in bankruptcy and added that it has been made in a luxurious format of 1,100 pages.
At this moment, 951 bankruptcy proceedings are being conducted in Serbia, of which 197 proceedings are being conducted in line with the new law. Some 55% of all cases are being brought before the Belgrade Commercial Court.
Out of a total of 357 persons who have passed the examination for trustee in bankruptcy, only 239 have the licence.
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