Bankruptcy proceedings are a special type of civil court proceedings conducted by the court to determine whether the statutory conditions for opening bankruptcy proceedings against certain entities and collecting and cashing out the entire assets of the bankruptcy debtor are met in order to ensure the group and proportionate settlement of all its creditors.
The sale of assets under bankruptcy proceedings most often takes place by organizing a public sale by the bankruptcy trustee on the basis of previously adopted decisions of the Board of Trustees. Considering that the property which is subject to bankruptcy proceedings is purchased according to the “sold as seen” principle, it is necessary to check all the relevant facts and circumstances in advance in order to protect the buyer in the best way in the purchase process. The assets sold in bankruptcy proceedings are assessed by authorized appraisers, and the price for which the assets of the bankruptcy debtor are sold is defined by the Board of Trustees in consultation with the bankruptcy trustee.
In the case in which this office successfully represented the buyer of bankruptcy property in court proceedings 65 0 St 450750 14 St, and on the occasion of the Sale of the debtor’s assets during bankruptcy – Property (German Veräußerungen des Insolvenzmassevermögens – Immobilien), by the Decision on Adjudication of the Municipal Court in Sarajevo, case number 65 0 St 450750 14 St of 5 December 2018, the property was adjudicated to our client.
Pursuant to this Decision on Adjudication, all records and encumbrances over the property in question were deleted, and the buyer was registered as the owner of the aforementioned shares in the land registry office of the Municipal Court in Sarajevo. In the further procedure, we registered the buyer in the competent cadastre as the owner, whereby the buyer fully protected their rights and interests, given that they acquired the property without encumbrance and recording, and that they were registered as the owner and holder in the relevant records of the competent institutions.
If you need legal counselling on the subject of Sale of the debtor’s assets during bankruptcy – Property (German Veräußerungen des Insolvenzmassevermögens – Immobilien) as a company, company member, director or founder or you need a corporate law attorney for your company or for your business idea, then you are in the right place with us and you can contact our corporate law attorneys directly by phone (+387 62 342 463), WhatsApp, Viber or e-mail (rasid@haracic.ba). Prodaja imovine u okviru stečajnog postupka – nekretnine (njem. Veräußerungen des Insolvenzmassevermögens – Immobilien, eng. a sale of the debtor’s assets during bankruptcy – Property)
