Regulatory Alerts2018-06-29
Added · Updated
Law on Bankruptcy and Liquidation of Banks and Insurance Undertakings
The National Bank of Serbia issues decisions initiating bankruptcy or liquidation proceedings for banks and insurance undertakings when specific insolvency conditions are met. The Deposit Insurance Agency acts as the administrator, managing asset inventory, claim verification, and the potential transfer of insurance portfolios to ensure continuity. The legislation establishes strict payout priority ranks for creditors and mandates that the sale of the debtor as a legal entity is prohibited during these proceedings.
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