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 within the bankruptcy procedure 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 bankrupt 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 – shares in a company (German: Veräußerungen des Insolvenzmassevermögens – Anteile an einer Gesellschaft) by the Decision of the Municipal Court in Sarajevo, case number 65 0 St 450750 14 St of 4 January 2023, 10% of the shares were adjudicated to our client.
Pursuant to the said Decision on Adjudication, all notes and encumbrances over 10% of the shares were deleted, and by the Decision on data changes of 22 June 2023, number 065-0-Reg-23-002025, the buyer was registered as the owner of the aforementioned shares, and the Register of Companies deleted all recordings and encumbrances related to these 10% of the shares.
If you need legal counselling on the subject of Sale of the debtor’s assets during bankruptcy – shares in a company (German: Veräußerungen des Insolvenzmassevermögens – Anteile an einer Gesellschaft) 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).
