THE PROTECTION OF THE PREEMPTIVE RIGHTS OF SEPARATE AND PLEDGE CREDITORS IN THE CASE OF SALES OF ENCUMBERED PROPERTY BY A DIRECT AGREEMENT

Marijana Dukić Mijatović; Vladimir Kozar

doi:10.5937/ptp2101001D

Authors

Marijana Dukić Mijatović LLD, Associate Professor, The University of Novi Sad, The Faculty of Technical Sciences, Serbia https://orcid.org/0000-0001-9535-2962
Vladimir Kozar LLD, A full Professor, The Faculty of Law for Commerce and Judiciary in Novi Sad, The University of Business Academy in Novi Sad, Serbia

DOI:

https://doi.org/10.5937/ptp2101001D

Keywords:

bankruptcy, preemptive right, separate creditor, sales, direct agreement

Abstract

The article reviews the regulations of Republic of Serbia, domestic legal practice, as well as the opinions of jurisprudence on the exercise and protection of the preemptive rights of separate and pledge creditors in a bankruptcy proceedings. There has been clarified the legal nature of the preemptive right on the subject of the secured right or lien. There were also provided the details related to the significance of the right of a creditor to set oﬀ its secured claim with the purchase price, in the case of a creditor being the best bidder (credit bidding). The article aims to present the manner of exercise of preemptive rights in the case of the method of sales of encumbered property/assets by a direct agreement, as well as the legal instruments the secured creditors may use in the case of its violation. There have been analysed the rules of procedure per lawsuit for annulment of a sale due to the violation of the preemptive rights. The deadline for a lawsuit, the content of the lawsuit which protects the preemptive right as well as the damage compensation right were especially considered.

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