Regulatory Alerts2023-01-01
Law on Voluntary Financial Restructuring of Debts Towards Financial Institutions
The Central Bank of Montenegro enacted this law to establish a voluntary framework for financially distressed but viable debtors to restructure debts with financial institutions. The legislation mandates a debt standstill period to halt enforcement actions, requiring creditors and debtors to cooperate in good faith to develop a restructuring plan. Final agreements must be mediated and certified by the Centre for Mediation, ensuring the preservation of financial system stability and economic recovery.
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