POSTUPCI PREVENTIVNOG RESTRUKTURIRANjA PRIVREDNIH DRUŠTAVA U PRAVU EVROPSKE UNIJE I SRPSKOM PRAVU

Abstract

Preventive restructuring of companies in financial difficulties, i.e., companies that are at risk of insolvency, is becoming one of the most important goals of modern insolvency law. To achieve that goal, many legislations around the world are striving to create an attractive and effective model of the preventive restructuring procedure. The main subject of this paper is the analysis of the existing preventive restructuring procedures in the law of the European Union and the law of the Republic of Serbia. That analysis was primarily carried out by assessing the compliance of Serbian law with the EU Directive on Restructuring and Insolvency. To that end, the basic features of preventive restructuring procedures were primarily reviewed, as well as the presence of preventive restructuring procedures in the analyzed legal systems. Thereafter, the EU law and domestic law were compared based on the three identified key points: 1) the nature and character of preventive restructuring procedures, 2) mechanisms for facilitating negotiations between debtors and creditors, and 3) the content, adoption and confirmation of the restructuring (reorganization) plan. Finally, the author raises the question of the need to introduce a new, special procedure for the preventive restructuring of companies in Serbian law, or to reform the existing insolvency procedure based on a pre-prepared reorganization plan.