New version of Bankruptcy Law on public display

The Ministry of Economy will hold public discussions on the new version of the Bankruptcy Law that should put the problem of insolvency in the country under control.

The State Secretary in the Ministry of Economy, Nebojša Ćirić, says that that version should resolve the problem of insolvency in the country, and that the Law should be submitted to the Parliament prior to June.

According to Ćirić, the Law stipulates acceleration of the bankruptcy proceedings, as well as resolving of the problem of introduction of bankruptcy, the costs of which range between one and few million dinars.

- Our Ministry works together with the Ministry of Finance, the National Bank of Serbia and the Association of Banks on the mechanism of multilateral compensation, either voluntary or mandatory – Ćirić explained.