Laws on privatization and bankruptcy become effective

The Law on privatization and changes and amendments to the Law on bankruptcy which came into force today, should provide the finalization of the social capital into private by the end of 2015 and better trustees’ protection.

The Law on privatization comprises that privatization of the remaining584 social companies should end by December 2015, as it was explained, in a fair and efficient manner.

The objective of the changes and amendments to the Law on bankruptcy is to increase transparency and prevent misuse in automatic bankruptcy, increase the trustees’ rights who have had a secondary role in the process so far.

The overall text on the Law on privatization is available HERE.

The overall text with changes and amendments to the Law on bankruptcy is available HERE.