Bankruptcy

The deadlines for privatising companies that are under restructuring will not be extended and their protection from creditor claims ends at the end of May, Serbian Minister of Economy Zeljko Sertic said on Monday.

Greece has told its creditors it will run out of money on April 9, making an appeal for more loans before reforms on which new disbursements

By Prokopis Hatzinikolaou

Greece will respond to a list of requirements on reforms being drawn up by a team of technical experts from its creditors in a "constructive spirit", the Greek finance ministry said in a statement on Friday.

President Grabar Kitarovic sent the law on seizure of assets to the constitutional court on Tuesday, claiming some of its provisions were unconstitutional as they do not help debtors stay in their homes.

The law was passed in 2012 and last amended in 2014 on the initiative of current government, led by the centre-left Social Democratic Party, SDP.

The need for a bankruptcy law in Romania regarding individuals has become obvious, but it should be a good law that will provide more benefits than losses and that is focused on negotiations between debtors and creditors outside the court because court trials are slow and costly, Vice-Governor of the National Bank of Romania (BNR) Bogdan Olteanu told a specialist conference on Thursday.

BELGRADE - The Serbian parliament adopted on Tuesday the set of six laws to strengthen bank control and introduce mechanisms of the previously conducted intervention of the National Bank of Serbia (NBS) in the case when banks face problems in their conduct of business, and MPs also passed the amendments to the law on public procurements.

Set of banking laws adopted in parliament

BELGRADE -- The National Assembly in Belgrade adopted on Tuesday a set of six laws to strengthen bank control.

The legislation introduces early intervention mechanisms for the National Bank of Serbia (NBS) to act in case a bank is facing problems.

Deputies also passed amendments to the Law on Public Procurements.

BELGRADE - The Privatisation Agency will initiate on Tuesday the bankruptcy proceedings in 70 government companies that do not have any employees, head of the agency Ljubomir Subara has stated.

According to the action plan the Serbian government adopted on Saturday, 188 companies from the agency's list for privatisation will go bankrupt.

BELGRADE - The Serbian government has secured the funds needed for compensation packages for around 5,000 employees of 188 of its companies that will file for bankruptcy, the Ministry of Economy said on Saturday.

The government adopted earlier an action plan for the completion of the privatisation in those 188 companies, which states that they will declare bankruptcy.