THE LEGAL POSITION OF SECURED CREDITORS IN FINANCIAL RESTURING AND BANCRUPTY

Marijana Dukić Mijatović

Authors

Marijana Dukić Mijatović Associate Professor and Vice Dean for Science and International Cooperation, the Faculty of Law for commerce and judiciary, University of Business Academy in Novi Sad

Abstract

The legal position of secured creditors in financial restructuring and bankruptcy is a necessary and essential topic in legal and economic reality for both legal theoreticians and practitioners, particularly nowadays when a wave of global recession has caused difficulties in business and payment. Banks as the largest secured creditors are mostly affected with these difficulties in business. The author of this paper pointed out the modalities of treatment and payment in a proceeding of financial restructuring for secured creditors as well as the most important segments and solutions of protection of secured creditors represented in both the local bankruptcy law and business and court practice.

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