Best Restructuring & Insolvency Lawyers in Serbia

Share your needs with us, get contacted by law firms.

Free. Takes 2 min.

Or refine your search by selecting a city:


Founded in 1991
10 people in their team
Serbian
English
Business Law Office | Corporate & Commercial Law Experts in SerbiaAt Business Law Office – Advokatska Kancelarija, we’ve been helping businesses grow, resolve disputes, and stay compliant in Serbia since 1991. Based in Belgrade, we are a boutique corporate law firm dedicated to providing...

Legal guides written by Business Law office - Advokatska Kancelarija:

  • Why Invest In Serbia
View profile
Injac Attorneys

Injac Attorneys

15 minutes Free Consultation
Belgrade, Serbia

Founded in 2019
20 people in their team
Serbian
English
Injac Attorneys is a Belgrade-based law firm with a regional footprint across Southeast Europe.Our team comprises corporate lawyers and multidisciplinary professionals whose composition is unique in the regional legal market. Educated at leading universities, our lawyers have gained their...
View profile
Legal Advisory Group
Belgrade, Serbia

Founded in 2008
5 people in their team
Serbian
English
WelcomeLegal Advisory Group is a Belgrade based law firm set up to provide wide range of legal services primarily from the scope of corporate and business law.In our firm, we believe the trust our clients have given us is the most important guideline and motive to prove they were right entrusting...
View profile
Stankovic & Partners
Belgrade, Serbia

Founded in 2010
50 people in their team
Serbian
English
About UsAt Stankovic & Partners (NSTLAW) we place our clients at the heart of our business. We understand that they are constantly facing new challenges, fresh opportunities and novel problems. They want advisors who can provide solutions. And that means being flexible. It may mean developing...
MMD Advokati
Belgrade, Serbia

Founded in 2000
50 people in their team
Serbian
English
MMD Advokati is an efficient, innovative and dynamic law firm, dedicated to understanding business needs and meeting the interests of its clients.Our team of experts has been advising large international corporations, financial institutions, banks and leading corporate entities from various...
Jusufović & Partners
Belgrade, Serbia

Founded in 2018
10 people in their team
Serbian
English
ABOUT USOur firm is created by a team of experts from various fields of law who have incorporated years of knowledge and experience, gained in top tier law firms, into an independent practice that works successfully in the Republic of Serbia and the region, in cooperation with domestic and foreign...
Andrejic & Partners
Belgrade, Serbia

Founded in 2011
50 people in their team
Serbian
English
Andrejic & Partners is a full-service law firm in Belgrade, offering legal services that are carefully tailored to the needs of our clients, who range from multinational companies to smaller companies and startups. Our firm was established by lawyers with vast experience in the legal market,...
Vuković & Partners Law Firm
Belgrade, Serbia

Founded in 2007
200 people in their team
Since 2007, VP Law Firm has been providing comprehensive, expert corporate legal advisory to local and international companies throughout the Western Balkans.With the team of more than 90 lawyers and other experts working in Serbia, Bosnia & Herzegovina, Montenegro, North Macedonia, Albania and...
ODI Law
Belgrade, Serbia

Founded in 2005
50 people in their team
Serbian
English
ODI is one of the leading independent corporate law firms in South-East Europe which has participated in the biggest and most complicated transactions in the Adria region. Due to our five offices and three desks, we have a permanent presence in the Slovenian, Serbian, Croatian Macedonian, and...
BDK Advokati
Belgrade, Serbia

Founded in 2004
50 people in their team
Serbian
English
OUR FIRMBDK Advokati (BDK) is a full-service law firm assisting clients in Serbia, Montenegro and Bosnia and Herzegovina. With more than 30 specialist lawyers and more than 40 professionals in total, we are able to offer clients expertise in all areas of law, with efficiency they are looking for.We...
AS SEEN ON

Browse restructuring & insolvency law firms by city in Serbia

Refine your search by selecting a city.

About Restructuring & Insolvency Law in Serbia

Restructuring and insolvency law in Serbia provides a legal framework for addressing financial difficulties faced by businesses and individuals. This area of law encompasses processes that allow debtors to reorganize their affairs and, if necessary, enter into formal insolvency proceedings. The objectives include fair treatment of creditors, preservation of viable businesses, and efficient resolution of financial distress situations. Serbia’s approach is primarily governed by legislation that aims to balance the interests of all parties while facilitating economic recovery and stability.

Why You May Need a Lawyer

Legal assistance in restructuring and insolvency is crucial due to the complexity of the laws and high stakes involved. Common situations where people may require a lawyer include:

  • Facing creditor actions such as enforcement or foreclosure.
  • Operating a company that is experiencing financial distress and needs to restructure debts to avoid insolvency.
  • Bankruptcy proceedings as a debtor or as a creditor seeking protection of financial interests.
  • Negotiating with multiple creditors to reach a restructuring agreement or mediator involvement in settlements.
  • Navigating the judicial insolvency process, including court filings and compliance with statutory obligations.
  • Protecting directors, shareholders, or employees during restructuring or insolvency.
Engaging a lawyer helps ensure rights are protected, compliance with Serbian law is maintained, and the best possible outcomes are achieved.

Local Laws Overview

Serbia has a dedicated Law on Bankruptcy and an accompanying Law on Consensual Financial Restructuring, which outline the procedures, protections, and obligations for parties facing insolvency or seeking to reorganize financially. Key aspects include:

  • The possibility of pre-insolvency restructuring via negotiation between debtors and creditors, with court oversight if needed.
  • Formal bankruptcy proceedings can result in either reorganization or liquidation, depending on the debtor's viability.
  • Rights and priorities of creditors are specified, including the order in which claims are settled.
  • Directors and responsible persons must act to prevent unnecessary worsening of financial difficulties to avoid personal liability.
  • Clear timelines and processes for filing bankruptcy petitions, creditor claims, asset evaluation, and debt settlement.
  • Protections exist for employees and specific secured creditors in the event of bankruptcy.
Understanding these legal frameworks is vital for anyone involved in or affected by restructuring and insolvency in Serbia.

Frequently Asked Questions

What is the difference between restructuring and insolvency in Serbia?

Restructuring refers to the process of reorganizing a company's debts and operations to restore financial stability, often before formal insolvency. Insolvency is the legal condition where a company or individual cannot pay debts as they come due, potentially leading to bankruptcy procedures.

Who can initiate bankruptcy proceedings in Serbia?

Bankruptcy proceedings may be initiated by the debtor, creditors, or responsible authorities. The proceedings are conducted through the competent commercial court.

What is pre-insolvency restructuring?

Pre-insolvency restructuring is a process where debtors and creditors negotiate solutions to financial distress before formal insolvency begins. This is encouraged by Serbian law to help avoid bankruptcy.

What happens to the assets of a bankrupt company?

Once bankruptcy is declared, a bankruptcy trustee is appointed to manage and potentially liquidate the company's assets. The proceeds are used to pay off the creditors according to the legal order of priority.

How are creditors' claims ranked in bankruptcy?

Creditors are ranked based on the type of claim they hold, with secured creditors and employees often having preference. Remaining creditors are satisfied from available assets according to the statutory hierarchy.

What duties do company directors have when facing financial problems?

Directors must act to minimize further losses once insolvency looms, including timely initiation of restructuring or insolvency proceedings. Failure to do so can result in personal liability.

Can individuals (not only companies) file for bankruptcy in Serbia?

Yes, both legal entities and individuals can be subject to formal bankruptcy proceedings under Serbian law.

How long does the insolvency process usually last?

The length of insolvency proceedings varies depending on the complexity of the case, but it can take several months to several years to fully complete.

Are there alternatives to court-led insolvency proceedings?

Yes, Serbia encourages consensual financial restructuring as an out-of-court alternative to formal bankruptcy, aiming for an agreement between debtors and creditors whenever possible.

What risks are there for business owners if bankruptcy is not declared in time?

If business owners delay filing for bankruptcy despite clear insolvency, they may be held personally liable for resulting financial losses and may face legal sanctions.

Additional Resources

For those seeking more information or support regarding restructuring and insolvency in Serbia, the following resources can be invaluable:

  • Ministry of Justice of the Republic of Serbia - Oversees the framework for commercial, bankruptcy, and civil law.
  • Serbian Business Registers Agency (APR) - Maintains the official register of bankruptcy proceedings and provides access to relevant public records.
  • Commercial Courts - Handle insolvency and bankruptcy cases, and provide guidance on procedures and required documentation.
  • Association of Bankruptcy Trustees of Serbia - Offers information and lists of licensed bankruptcy trustees.
  • Serbian Chamber of Commerce - May provide advisory services and support for businesses in difficulty.

Next Steps

If you are experiencing financial distress, uncertain about your legal options, or need advice on restructuring or insolvency, consider the following steps:

  • Collect all relevant financial documents and records related to your business or personal finances.
  • Assess whether your situation requires immediate action, such as negotiating with creditors or filing for bankruptcy.
  • Seek a consultation with a lawyer specializing in restructuring and insolvency. Legal professionals can provide tailored guidance and represent your interests in negotiations or court.
  • Stay informed about your rights and obligations under Serbian law by reviewing available resources and, if needed, contacting relevant governmental bodies.
  • If you are representing a business, consider the impact on employees, suppliers, and other stakeholders and communicate proactively with them.
Early legal advice can make a significant difference in achieving a favorable resolution and minimizing risks associated with financial distress or insolvency.
Lawzana helps you find the best lawyers and law firms in Serbia through a curated and pre-screened list of qualified legal professionals. Our platform offers rankings and detailed profiles of attorneys and law firms, allowing you to compare based on practice areas, including Restructuring & Insolvency, experience, and client feedback. Each profile includes a description of the firm's areas of practice, client reviews, team members and partners, year of establishment, spoken languages, office locations, contact information, social media presence, and any published articles or resources. Most firms on our platform speak English and are experienced in both local and international legal matters. Get a quote from top-rated law firms in Serbia - quickly, securely, and without unnecessary hassle.

Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.