Can a distressed Serbian company pursue formal restructuring instead of liquidation, and what are the steps?

Under Serbian law a company in financial distress can either (a) try consensual/out-of-court restructuring, (b) file (or be forced into) court-supervised reorganisation within insolvency proceedings, or (c) enter liquidation (bankruptcy). The court insolvency procedure ("stečaj") transfers control to the bankruptcy administrator, invites creditor claims, and leads either to creditor-approved reorganisation or to liquidation. Whether you can avoid liquidation depends mainly on (i) the viability of the business and realistic cash-flow plan, (ii) whether key creditors (banks, largest suppliers, tax authorities) agree to a restructuring, and (iii) timing — early action materially improves chances. For more detailed information and preparation of the step plan you can contact us. NCR lawyers

Under Serbian law a company in financial distress can either (a) try consensual/out-of-court restructuring, (b) file (or be forced into) court-supervised reorganisation within insolvency proceedings, or (c) enter liquidation (bankruptcy). The court insolvency procedure (opening of “stečaj”) transfers control to the bankruptcy administrator, invites creditor claims, and leads either to creditor-approved reorganisation or to liquidation. Whether you can avoid liquidation depends mainly on (i) the viability of the business and realistic cash-flow plan, (ii) whether key creditors (banks, largest suppliers, tax authorities) agree to a restructuring, and (iii) timing — early action materially improves chances. For more detailed information and preparation of the step plan you can contact us. NCR lawyers