Partners for Democratic Change Serbia

Consensual Financial Restructuring

IMG_8558Partners Serbia lead an international consortium, which implements a project “Support for Effective Implementation of the Consensual Financial Restructuring Law in Serbia” (the Project), with support of the European Bank for Reconstruction and Development (EBRD).

Along with expert consultants, Law Office Andric, EMA Global (USA), and ADR Center (Italy), Partners Serbia will work toward enhancement of the system of  Consensual Financial Restructuring (CFR) procedure within the Chamber of Commerce and Industry of Serbia (CCIS), which is the Institutional Mediator authorized by the Law.

Within the Project the consultants will conduct an assessment of the legislative framework, institutional capacity of the CCIS and role and activities of the key stakeholders in the process, in order to adopt recommendations for improved environment and strengthening of the consensual financial restructuring in Serbia. It will be followed by various activities aimed at promotion of this out-of-court restructuring method and mediation in general, raising awareness of key stakeholders, particularly small and medium sized enterprises and banks, on the incentives and benefits of this innovative procedure, and organizing training of mediators and staff in the CCIS and other regional chambers of commerce. To ensure full efficiency of the process, an IT system for management and monitoring of the procedure will be developed and implemented.

Take a look how the presentation of the Project was covered in the media: