Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective
Abstract
This article contains a critical analysis of the existing Serbian legal provisions that limit the possibility of a major asset disposition as a way of restructuring companies. In this regard, the authors have identified three main problems affecting such asset deals in Serbia, which can be considered regulatory barriers to this type of restructuring. The three problems are: the specific regulation of necessary shareholder approval and appraisal rights, the unavoidable assumption of liabilities by the purchaser (the buyer or the transferee) and the inadequate implementation of the EU Transfer of Undertakings Directive concerning employee protection. The solutions adopted in Serbian law are analyzed using a comparative approach, especially based on the rules adopted in Europe, including South-East Europe and the U.S. as a reference. It is interesting to show how different influences from these other jurisdictions have led to the specific (unique) development of the Serbian regulation wit...h regard to dispositions of major assets. The ultimate goal of the present article is to examine the possibility and the need for harmonization of these issues on the regional (supranational) level.
Source:
European Company and Financial Law Review, 2022, 19, 2, 239-271Publisher:
- Walter de Gruyter Gmbh, Berlin
DOI: 10.1515/ecfr-2022-0009
ISSN: 1613-2548
WoS: 000827369500003
Scopus: 2-s2.0-85135740715
Collections
Institution/Community
Pravni fakultet / Faculty of Law University of BelgradeTY - JOUR AU - Radović, Mirjana AU - Radović, Vuk PY - 2022 UR - https://ralf.ius.bg.ac.rs/handle/123456789/1349 AB - This article contains a critical analysis of the existing Serbian legal provisions that limit the possibility of a major asset disposition as a way of restructuring companies. In this regard, the authors have identified three main problems affecting such asset deals in Serbia, which can be considered regulatory barriers to this type of restructuring. The three problems are: the specific regulation of necessary shareholder approval and appraisal rights, the unavoidable assumption of liabilities by the purchaser (the buyer or the transferee) and the inadequate implementation of the EU Transfer of Undertakings Directive concerning employee protection. The solutions adopted in Serbian law are analyzed using a comparative approach, especially based on the rules adopted in Europe, including South-East Europe and the U.S. as a reference. It is interesting to show how different influences from these other jurisdictions have led to the specific (unique) development of the Serbian regulation with regard to dispositions of major assets. The ultimate goal of the present article is to examine the possibility and the need for harmonization of these issues on the regional (supranational) level. PB - Walter de Gruyter Gmbh, Berlin T2 - European Company and Financial Law Review T1 - Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective EP - 271 IS - 2 SP - 239 VL - 19 DO - 10.1515/ecfr-2022-0009 UR - conv_3230 ER -
@article{ author = "Radović, Mirjana and Radović, Vuk", year = "2022", abstract = "This article contains a critical analysis of the existing Serbian legal provisions that limit the possibility of a major asset disposition as a way of restructuring companies. In this regard, the authors have identified three main problems affecting such asset deals in Serbia, which can be considered regulatory barriers to this type of restructuring. The three problems are: the specific regulation of necessary shareholder approval and appraisal rights, the unavoidable assumption of liabilities by the purchaser (the buyer or the transferee) and the inadequate implementation of the EU Transfer of Undertakings Directive concerning employee protection. The solutions adopted in Serbian law are analyzed using a comparative approach, especially based on the rules adopted in Europe, including South-East Europe and the U.S. as a reference. It is interesting to show how different influences from these other jurisdictions have led to the specific (unique) development of the Serbian regulation with regard to dispositions of major assets. The ultimate goal of the present article is to examine the possibility and the need for harmonization of these issues on the regional (supranational) level.", publisher = "Walter de Gruyter Gmbh, Berlin", journal = "European Company and Financial Law Review", title = "Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective", pages = "271-239", number = "2", volume = "19", doi = "10.1515/ecfr-2022-0009", url = "conv_3230" }
Radović, M.,& Radović, V.. (2022). Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective. in European Company and Financial Law Review Walter de Gruyter Gmbh, Berlin., 19(2), 239-271. https://doi.org/10.1515/ecfr-2022-0009 conv_3230
Radović M, Radović V. Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective. in European Company and Financial Law Review. 2022;19(2):239-271. doi:10.1515/ecfr-2022-0009 conv_3230 .
Radović, Mirjana, Radović, Vuk, "Regulatory Barriers to Corporate Restructuring Through Disposition of Major Assets - A Serbian Perspective" in European Company and Financial Law Review, 19, no. 2 (2022):239-271, https://doi.org/10.1515/ecfr-2022-0009 ., conv_3230 .