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Mar 27
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RESTRUCTURING AS A MEASURE OF RECOVERY OF THE DEBTOR IN THE LEGISLATION OF THE REPUBLIC OF SRPSKA

Zoran Vasiljević

10.5937/pravpriv2001137V
ABSTRACT /

The author deals with the analysis of restructuring as a measure of debtor’s recovery in the legislation of Republic of Srpska and a comparative legal analysis. It is pointed out that this is one of the procedures which represents an alternative to the bankruptcy procedure and the termination of business entity, together with the more well-known procedure of reorganization of the bank- ruptcy debtor on the basis of the bankruptcy plan. It is stated that the law of Republic of Srpska introduced for the first time a restructuring procedure by the Bankruptcy Act of 2016, but as a hybrid variant which entails the conduct of a court proceedings and to which the legal provisions that apply to the bankruptcy procedure itself are largely applicable. Restructuring as a form of out-of court arrangement between debtor and creditors has not yet seen the light of the day in the Republic of Srpska’s legislation, but there is a draft of the special law which should regulate this matter and which adoption can be expected soon. In any case, it can be noted that the restructuring is more flexible than the process of reorganization and it, with greater savings of time and money, can lead to the same goal, which is to revive the debtor. This is especially due to the timely taking of recovery measures before appearance of the bankruptcy cause. The contribution of this procedure, whether judicial or extrajudicial, is undoubtedly large for all participants in this process, as well as for the entire economy and society.

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