NPL Resolution

11 Dec 2015

Serbia: Amendments to the Financial Restructuring Act

In line with the action plan included in the non-performing loan resolution strategy (“NPL Strategy”), the Serbian Parliament passed amendments to the Voluntary Financial Restructuring Act (“the Act”) on 23 October 2015. The law entered into force on 4 November 2015 and will be enforced as of 2 February 2016. Pending financial restructurings will continue in line with the provisions of the Act. The changes the Act introduces may not be monumental, but legislators expect they will contribute to developing a more favorable economic environment in the country. It remains to be seen how the Act is going to be […]

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