REPORT

1

• REPORT
• OF
• BANKRUPTCY SUPERVISION AGENCY (BSA)
• Trends and developments
• Prepared by
• Vesna Gacea
• Acting Director, Bankruptcy Supervision Agency

2
(No Transcript)
3
Facts about Serbia

• Serbia is located in the central part of the
  Balkan Peninsula, on the most important route
  linking Europe and Asia, occupying an area of 88,
  361 sq. km.
• The length of Serbia's border is 2114.2 km
• Population, excluding Kosovo and Metohia
  Province, is 7,498,001 (according to official
  census data collected in 2002)
• Belgrade is the capital and the administrative,
  economic and cultural centre of Serbia.
• Official language Serbian
• Currency Serbian Dinar (RSD)
• National air carrier Jat Airways

4
Introduction, developments, trends

• BSA is a young (since 24.02.2005) and unique
  agency in the South Eastern Europe
• In accordance with the BSA Law and other by-laws,
  the BSA has the following responsibilities
• To issue, renew, and revoke licenses for pursuing
  the bankruptcy administrators profession, in
  accordance with the law
• To organize and conduct licensing exam for
  bankruptcy administrators
• To keep the Registry of licensed bankruptcy
  administrators
• To maintain supervision of activities of
  bankruptcy administrators and monitor the
  development of the bankruptcy administrators
  profession
• To monitor the implementation of provisions
  regulating the bankruptcy proceedings
• To collect and process the statistical and other
  data of relevance to the conduct of bankruptcy
  proceedings

5
Introduction, developments, trends BSA
activities

• To propose national standards for administration
  of the bankruptcy estate, together with the Code
  of Ethics, both of which were adopted in
  accordance with the provisions of the Bankruptcy
  Law
• To perform other tasks stipulated by the law and
  the Statute.
• The Agency carries out the activities under 1),
  2) i 4) as entrusted tasks.
• A lot of progress was made in relation to the
  implementation of envisaged activities, with
  emphasis on organizing and conducting the
  licensing examination and issuing license for the
  performance of duties of a bankruptcy
  administrator in accordance with the Law

6
Bankruptcy Supervision Agency

• In addition to the law, the regulatory framework
  for the successful performance of the BSA
  include
• Regulation On The Conditions, Curriculum, And
  Manner of Taking The Bankruptcy Administrator
  Licensing Examination (Exam Regulation)
• National Standards for Administering the
  Bankruptcy Estate
• Code of Ethics for Bankruptcy Administrators
• Regulation on Bases and Criteria For Determining
  The Final Amount of Award For The Work of
  Bankruptcy Administrators and Compensation of
  Actual Expenses (Reward and Compensation
  Regulation)
• Tariff for services provided by the BSA (BSA
  Tariff)

7
BSA Activities from its foundation until July 2007

• Publishing
• Book of Regulations for Bankruptcy Administrators
• Handbook for Bankruptcy Administrators
• Expert magazine Stecajni informator (Bankruptcy
  Newsletter)
• Conference Book of the Third ACC INSOL Europe
  Conference
• Promotion and development of the bankruptcy
  administrators profession
• Participation in local and in international
  seminars, conferences (follow up on local and
  international achievements and exchange of
  experiences in insolvency field)
• Provision of support to bankruptcy administrators
  

8
BSA activities from its foundation until July
2007 (cont.)

• Support to international projects
• USAID/BES Project BSA IT system improvement
• GTZ Programme- Technical Support to the
  Privatization Agency - Professional Improvement
  of Licensed BAs
• Other activities
• Orderly updating the information on its website
  and making all forms available for download from
  the website
• Improving relations with the public and the
  service users
• Keeping personal files of BAs
• Enabling access of BAs to all exam-related
  information
• Activities were started on improving electronic
  interchange of data with services users in the
  area of supervision

9
Activities from July 2007 onwards

• Change of the BSA Director
• New organization of work within the BSA
• (teamwork, new departments)
• Future activities will focus on developing the
  regulatory and organizational frameworks to
  improve following
• Supervision of activities of BAs and monitoring
  the development of bankruptcy administrators
  profession
• Issuing and revoking licenses for the performance
  of duties of BA

10
Activities from July 2007 onwards (cont.)

• Promotion and improvement of bankruptcy
  administrators profession
• From 2007onwards, the BSA will organize seminars
  by itself and continue to actively participate in
  international events, conferences (to stay
  informed of local and international achievements
  and keep exchanging experiences in the field of
  insolvency)
• Continue to provide support to bankruptcy
  administrators in relation to their professional
  education and training, especially through
  organizing round table meetings and workshops, in
  cooperation with local and international
  partners, on topics related to practical
  implementation of existing laws and regulations

11
Activities from July 2007 onwards (cont.)

• Intensify activities on following up on
  regulations
• governing the bankruptcy proceedings active
  participation in preparing proposals for
  amendments to the Law and by-laws, with a view to
  removing obstacles which proved to be
  non-functional in practice
• Better organize the procedure of collecting and
  processing of statistical data, and improve the
  software programme
• in order to follow up on all activities from
  the BSA scope
• Enhance communication with service users
• The Internet delivery of reports through
  electronic interchange

12
Activities from July 2007 onwards (cont.)

• Continue with and improve the publishing activity
• by publishing electronic editions of
  professional literature
• Contribute by active participation to the
  implementation of international projects
• - USAID/BES Project BSA IT system improvement
• - GTZ Programme Technical Support to the PA
• Professional Improvement of Licensed BA

13

• REPORT ON LICENSING EXAMINATION AND LICENSES
  ISSUED TO DATE

14
Licensing Examination

• Legal Framework
• Regulation on the Conditions, Curriculum, and
  Manner of Taking the Bankruptcy Administrator
  Licensing Examination, passed by the Minister of
  Economy
• Method of taking the examination
• Written part
• Oral part
• Education for candidates
• Pre-training courses (organized by the BSA and
  other institutions)

15
Exams in 2005

• BSA organized and held three exams
• July (15.07.2005)
• October (29.10.2005)
• December (17.12.2005)
• 863 exam-takers,
• 307 (35.5) passed

16
Exams in 2006

• BSA organized and held two exams
• April (08.04.2006)
• June (24.06.2006)
• 176 exam-takers,
• 105 (59.6) passed

17
Exams in the first half of 2007

• BSA organized and held one exam
• March (24.03.2007)
• Next exam
• (early November 2007)
• 118 exam-takers,
• 48 (40.7) passed the exam

18
Licenses

• Requirements for license issuance
• Successfully passed professional exam for
  bankruptcy administrators
• A fee must be paid for granting the license
• Issued licenses
• First licenses issued
• 21.09.2005
• In 2005
• 185 licenses were issued
• In 2006
• 153 licenses were issued
• In the first half of 2007
• 26 licenses were issued

19
Overview of cumulative results and the candidate
structure by residence, gender and occupation

• As at 01.08.2007
• there were a total of 460 candidates who passed
  the exam

20
Overview of cumulative results and the candidate
structure by age, gender and occupation (cont.)

• 362 licenses were issued upon the request of BAs

21
Engagement of Bankruptcy Administrators in cases

• Conditions for appointment
• Possession of a license
• Status of an entrepreneur
• 3 years of working experience
• Bankruptcy administrators are appointed by
  bankruptcy panel
• Who can be a bankruptcy administrator in Serbia?
• Individuals
• Specialized institutions

22
Engagement of Bankruptcy Administrators in cases
(cont.)

• 1118 cases with the BSA
• 809 active cases
• 309 filed cases

23
Engagement of Bankruptcy Administrators in cases
(cont.)

• 457(56) individuals acting as BAs
• 352 (44) licensed BAs - agents of the
  specialized institution PABU

24
Engagement of Bankruptcy Administrators in cases
(cont.)

• Out of a total of 362 licensed bankruptcy
  administrators, 238 are engaged in cases
• Individuals (165)
• Agents of the PABU (163)

25
Registry of Bankruptcy Administrators

• The BSA is responsible
• to keep the registry of bankruptcy administrators
• to keep the database of BAs updated
• to deliver the list of BAs to all commercial
  courts in the territory of the Republic of
  Serbia.

26

• Thank you !
• Bankruptcy Supervision Agency
• Tel [phone]
• Fax [phone]
• 11000 Belgrade, 14 Kneza Mihaila St.
• Republic of Serbia
• Visit the official Internet presentation of
  theBSA at
• www.alsu.sr.gov.yu