Global processes at the international level in synergy with the turbulent circumstances in the local and regional market, cause business in Serbia to be very demanding, which often results in the need for restructuring and/or insolvency of companies, leading to bankruptcy. The initiation of bankruptcy proceedings and the preparation of a reorganization plan is a problem both for the borrowers who are faced with insolvency, as well as for their creditors who often belong to the banking sector, and who, in addition to high financial exposure, have the problem of liability and reservation of non-operating loans towards the central bank. Yet, these procedures do not only pose a problem, but they also present international investors who seek opportunities to make significant profits from risky investments with a business challenge.

This issue becomes very complex when this range of different and often conflicting interests is also affected by multidisciplinary legal fields relating to the methods of restructuring and insolvency, followed by frequent changes and inconsistencies of regulations which require a deep knowledge of the operation of courts and other organizations and authorities responsible for the implementation and control of the application of the regulations, as well as the frequent nontransparent history of property and commercial relations.

It is in this area where P&L has developed considerable expertise, and where it is recognized as a frontrunner in the domestic market, while it has significant practices and references generated both in the region and in the EU market. Our team prides itself on the high number and percentage of recovered claims in these proceedings, which according to the statistics of our clients, are among the highest achieved in the banking and factoring sector in Serbia. In these proceedings, L & P represents a large number of banks that are leaders in domestic and international markets.

 

 

In addition to legal expertise, the L&P team possesses competent knowledge of the financial and business needs of clients, which enables it to perform complete counseling and the representation of clients conducting the acquisition of insolvent companies or their assets within this type of proceedings, from the initial planning of the project to its final implementation.

Given the multidisciplinary nature of these projects that require the application of bankruptcy law, corporate law, contract law, labor law, property law, litigation law and other legal fields, the lawyers from all our departments are involved in these processes.

 Our services in this field include, but are not limited to:

  • The negotiation of stand-still arrangements in the interests of clients,
  • Client counselling in the preparation of pre-prepared reorganization and refinancing plans,
  • Client counselling during the preparation of reorganization plans in the course of bankruptcy proceedings,
  • Counselling of creditors in the preparation of defense strategies from harmful reorganization plans,
  • The representation of clients in bankruptcy proceedings with the aim to collect receivables,
  • The representation of clients in litigations arising from bankruptcy proceedings,
  • The preparation of Due diligence reports of non-operative loans,
  • Legal assistance in structuring and the implementation of complex projects of debt restructuring connected to bankruptcy proceedings and reorganization plans,
  • Client counselling and participation in negotiations on the acquisition of non-operating loans through the assignment of receivables or by other methods,
  • Client counselling in relation to obtaining collateral for claims.
© 2017 Lazarević & Pršić advokati