SERBIA Law and Practice Contributed by: Uroš Popović and Stefan Golubović, Drašković Popović & Partners
2.9.2 Overview of Relevant Types of Voluntary and Involuntary Restructurings, Reorganisations, Insolvencies and Receivership Serbia recognises two types of voluntary and invol - untary restructurings, reorganisations, insolvencies and receivership proceedings (see 2.9.1 Overview of Relevant Laws and Statutory Regimes Govern- ing Restructurings, Organisations, Insolvencies and Liquidations ). • Corporate liquidation: proceedings that may be initiated if the company is solvent and wants to terminate itself. This procedure is initiated by the company before the Business Register and the creditors are called upon to register their claims. From an operational perspective, the company appoints the liquidation administrator who repre - sents the company in the corporate liquidation pro - ceedings. When the company provides evidence that it has settled all creditor claims, it may request the deletion of the company (liquidation) from the Business Register. • Insolvency proceedings: these may be initiated if: (a) the company has extended monetary difficul - ties; (b) there is a danger that the company will be - come insolvent; (c) the company is over indebted; or (d) the company does not act in line with the reor - ganisation plan. The insolvency proceedings are court proceedings in which the appointed insolvency administrator repre - sents the insolvency debtor. Insolvency proceedings may lead to the reorganisation of the company or dis - solution of its assets and subsequent liquidation. 2.9.3 Co-Ordination, Recognition or Relief in Connection With Overseas Proceedings In the case of parallel insolvency proceedings before the Serbian courts and the courts of foreign juris - diction, Serbian courts are statutorily obliged to co- operate with the foreign courts. This co-operation may entail the: • appointment of the person that will take actions in line with the court’s instructions, • exchange of data;
in advance so that it will be possible to commence with the procedure of registration of an aircraft in another foreign register. 2.8.13 Costs, Fees and Taxes Concerning Export of Aircraft If the aircraft is registered in the Aircraft Register, before the aircraft is exported, the deregistration of the aircraft must take place. In this scenario the fol - lowing fees apply. • The fee for the resolution on deletion amounts to RSD5,020 (approximately EUR43). • The fee for the export airworthiness certificate (required for the foreign registry where the aircraft will be registered) amounts to RSD4,210 (approxi - mately EUR36). 2.8.14 Practical Issues Related to Deregistration of Aircraft There are no significant practical difficulties involved in deregistration as such. However, it is worth high - lighting that deregistration from the Aircraft Register and registration with another aircraft register must be punctually co-ordinated. In other words, the exact date and time of deregistration must coincide with the registration in a new register so that any potential time difference between two registrations is avoided. 2.9 Insolvency Proceedings 2.9.1 Overview of Relevant Laws and Statutory Regimes Governing Restructurings, Reorganisations, Insolvencies and Liquidations Serbia recognises two types of reorganisation, restructuring, insolvency and liquidation proceedings. • Corporate liquidation, which is regulated by the Company Law ( Zakon o privrednim društvima , Offi - cial Gazette of RS Nos 36/2011, 99/2011, 83/2014, 5/2015, 44/2018, 95/2018, 91/2019 and 109/2021). • Insolvency proceedings, which are regulated under the Law on Insolvency ( Zakon o stečaju , Official Gazette of RS Nos 104/2009, 99/2011, 71/2012, 83/2014, 113/2017, 44/2018, 95/2018 and 44/2025).
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