{"id":4444,"date":"2015-01-18T13:38:53","date_gmt":"2015-01-18T11:38:53","guid":{"rendered":"http:\/\/www.mans.co.me\/en\/?p=4444"},"modified":"2015-10-20T09:45:15","modified_gmt":"2015-10-20T07:45:15","slug":"the-public-debate-on-amendments-to-the-law-on-bankruptcy-needs-to-be-extended","status":"publish","type":"post","link":"https:\/\/mans.co.me\/en\/?p=4444","title":{"rendered":"The public debate on amendments to the Law on Bankruptcy needs to be extended"},"content":{"rendered":"

\"skupstinacg\"<\/a>MANS again invites the Government of Montenegro and the line to the Ministry of Economy to\u00a0extend the public debate on amendments to the law on bankruptcy, and to organize round tables at which they should discuss the proposed solutions, especially in the north where the economy has been destroyed precisely through bankruptcy\u00a0procedures.<\/p>\n

Public\u00a0hearing runs until January 25th, and given that it is one of the systematic laws\u00a0that has a huge impact on thousands of workers not only government officials, but also private companies, it would be extremely hypocritical that the whole process of making law to be\u00a0implemented behind their backs and interested expert public.<\/p>\n

This is\u00a0even more important because\u00a0series of solutions offered in the draft of the\u00a0law on bankruptcy is very problematic and their adoption would mean further destruction of the Montenegrin economy and\u00a0sale of\u00a0valuable assets for almost nothing, with the absence of criminal liability of bankruptcy trustees,\u00a0which in recent years thousands of workers left without anything and contributed\u00a0that\u00a0the existence they achieve through social assistance.<\/p>\n

MANS considered particularly troubling\u00a0the fact that\u00a0some of the new legal solutions are designed in a way to use bankruptcy as a model of privatization of the remaining large state-owned companies, that\u00a0the Government successfully for years fail\u00a0to privatize through sale of its package of shares, and in that way find interested buyers.<\/p>\n

In that sense, is very illustrative example of the Adriatic shipyard from Bijela, for which the Government openly\u00a0announces that it will sell it through bankruptcy. Namely, when\u00a0is taken into account the new solution in the law that gives to the trustee the ability to sell the company’s assets even\u00a0for fifths\u00a0below its real value, only in this case it is clear how devastating consequences that will have.<\/p>\n

With regard\u00a0that the\u00a0case of the shipyard is not alone, and bearing in mind\u00a0sale of AP from Podgorica, which is literally donated\u00a0through bankruptcy to the controversial businessman Veselin Pejovic from Niksic, MANS\u00a0believes that\u00a0it is necessary that in the debate the general public is involved, workers before all.<\/p>\n

In addition, the current practice shows that many local tycoons used bankruptcy to get valuable real estate on the two most common ways – for a small sum they bought\u00a0companies that were already in bankruptcy, or\u00a0they purchased shares on the stock market, and\u00a0when they\u00a0became majority owners they\u00a0initiated bankruptcy.<\/p>\n

In both cases, the goal of the new owners was not\u00a0to revive\u00a0firms, but\u00a0sale of valuable real estate that later were misappropriated for\u00a0millions and thus profited while workers lost their jobs and were left on the street.<\/p>\n

Because of this, it is essential that as the general public, especially damaged\u00a0workers, and those who would be able to feel the harmful effects of the proposed solutions at\u00a0their own\u00a0examples\u00a0engage in discussion on this subject, in order to reach the best legal provisions, which will\u00a0primarily protect workers, and not to be at their expense.<\/p>\n

MANS reminds that last week and\u00a0from the Parliamentary Committee for Anti-Corruption asked to soon as possible consider the initiative that\u00a0we submitted together with the NGO “Stecajci u Crnoj\u00a0Gori “, which seeks a hearing on relevant ministers on conducted bankruptcy proceedings in the north of the country, and at the same time to give its\u00a0contribution to the debate about the solutions proposed by the Government.<\/p>\n

MANS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

MANS again invites the Government of Montenegro and the line to the Ministry of Economy to\u00a0extend the public debate on amendments to the law on bankruptcy, and to organize round tables at which they should discuss the proposed solutions, especially in the north where the economy has been destroyed precisely through bankruptcy\u00a0procedures. Public\u00a0hearing runs until<\/p>\n

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