SECURED TRANSACTIONS

The course deals with the analysis of different types of collaterals used in practice to secure claims – e.g. a claim of lending banks under facilities agreement, claims of other business entities against companies in Serbia. The general impression is that the collection of receivables/claims is at unsatisfactory level and in this regard it is important to allow for timely collection and discharge of obligations in a legally appropriate manner. The protection of creditors and their ability to quickly and fully collect on their claim gives assurances of propriety in business transactions.

The course deals with different forms of collaterals including bank and corporate guarantees, warranties, mortgages and different types of pledge. An accent is placed on specific and clear formulations that can lead to efficient collection of receivables/claims.

This course will also include the following topics:

Guaranties:

• Legal nature of bank guarantees,
• Form and conditions necessary for the issuance; necessary elements,
• Types of guaranties,
• Importance of clear and precise formulation and governing law,
• Corporate guaranties, form and application in practice

Pledge

• Types and registration,
• Termination of pledge right,
• Foreclosure of the subject matter of the pledge.

Mortgage

• Content of mortgage contract/pledge statement,
• Form of mortgage contract/statements,
• Inception of mortgage and problems related to its recording in the cadaster of immovable property,
• Obligations of the mortgage property owner,
• Foreclosure and sale of mortgaged immovable property,
• Satisfaction of creditor- out of court or in court,
• Termination of mortgage.

Bills of exchange:

• Use of blank bills of exchange as security instrument,
• Documentation to be obtained from debtor, registration,
• Payment of bills of exchange- out of court or in court.

Collection of Debt:

• In liquidation bankruptcy (course of the proceedings, the consequences of bankruptcy for creditors; participation of the creditors; types of sale of the bankruptcy debtor)
• In reorganization bankruptcy (Pre­Packaged Reorganization Plan “UPPR”, real life examples, problems creditors face in connection with reorganization plans)

Speakers:

• Miloš Vulić
• Aleksandar Andrejić