INDICATIONS FOR RELEASE OF PRE PACK INSTITUTE IN BANKRUPTCY LAW OF BOSNIA AND HERZEGOVINA (particularly the law of the Republic of Serbia)

Abstract

Reorganization plan is an essential instrument for the procedure of reorganization of insolvent company. In order to perform a successful recovery and continued smooth operations, the existence of basic economic parameters - capacity. The existence of adequate material basis points to the possibility of using certain types of bankruptcy plan. Reorganization plan in any case an appropriate combination of several diferentnih modalteta that will lead to complete recovery of the company and continue his business, which is the main goal of the reorganization. Which modality will be applied to depend on the current economic - financial situation of the company. The quality of prepared and accepted the reorganization plan by the bankruptcy creditors will necessarily envy and the confirmation of the bankruptcy court. Namely, the Law on Bankruptcy Procedure of the Federation B&H and the Republic of Serbian provides for the submission of the reorganization plan along with a proposal to open proceedings, and after the bankruptcy proceedings until the final hearing. In the first case, when the reorganization plan filed simultaneously with a proposal for bankruptcy, it is evident the existence of pre pack institute (prepared in advance of the bankruptcy plan) which is already 2009 years of detailed arranged in the Law on Bankruptcy of the Republic of Serbia. Since this concept guarantees a good outcome for insolvent companies, it is essential to its introduction and more detailed regulation in the bankruptcy legislation B&H.