At the round table related to the most common questions about the Financial Operations Act, Anđa Redžić, head of the collection department at the Tax Administration, Vinka Ilak from Fina, and Danko Sučević from Infokor participated.
It seems that many inconsistencies still exist, as well as insufficient elaboration of some legal provisions related to the pre-bankruptcy procedure, specifically the deadlines within which it must be initiated, as well as regarding claims and debt collection.
Fina has received 20 proposals for initiating a pre-bankruptcy settlement. Conclusions should be made in the coming days inviting the debtor to eventually provide what is missing in that proposal.
There will be a deadline, and if it is not met, bankruptcy proceedings will commence. When asked what happens to contracts concluded before October 1, when the Law came into force, Fina responded that if there are regulated payment deadlines, the old law applies, and if there are no such deadlines, the new one applies. There is no retroactive application of the law.
They added that the collection of goods, especially in construction, within 60 days is sometimes difficult to achieve, and it can take up to three months to collect.
In the construction sector, there is a specific situation, so appropriate provisions of the contract for work apply. Exceptionally, a deadline of 360 days with enforcement elements can be agreed upon.
The question of sanctions in the case of not initiating the pre-bankruptcy settlement procedure was also raised.
Fina claims that penalties are prescribed. The aim is to strengthen and implement supervision using data from financial systems where it can be determined whether someone is insolvent.
A pre-bankruptcy settlement also cannot be conducted against a person who is not registered as a craft but engages in activities such as specialist clinics, but is registered as a natural person – they are not subject to it.
At the round table, questions were also raised about the rights of creditors who did not report their claims within 30 days. Fina agrees that this area is not sufficiently regulated. If there is an enforcement document but not coverage by a financing plan – the creditor has no right to their funds.
This is, they agree in Fina, a complete legal issue. The law should regulate that the pre-bankruptcy procedure applies to all creditors, whether they are covered by the plan or not.
