Protecting Assets, Preserving Value

Our bankruptcy, restructuring and insolvency practice has gained its strength through experience. Restructuring business assets, either corporate or financial, is how a business eliminates excess expenses, implements innovation and improves their competitive advantage. Whether the reason for restructuring is financial hardship or strategic repositioning, Vulic Law has a qualified and experienced team to guide you through the intricacies of the process.

Vulić Law | Insolvency & Restructuring

Our team has represented major interests in some of the most high-profile insolvency and restructuring cases that have taken place in Serbia. The impressive track record of our team is recognised for achieving successful outcomes for our clients. Vulic Law is active in all areas of financial restructurings and insolvencies and we advise major international financial institutions, foreign debtors, creditors and investors across a range of industry sectors. We draw from multidisciplinary skills to provide ancillary advice on certain aspects of the insolvency and restructuring process, such as employment and corporate law issues. Our team has a reputation for excellence and is well equipped to help protect your assets and preserve the value of your business.

Experience & Projects

Vulic Law has particular expertise in the area of insolvency and restructuring. The team members have some of the strongest experience in the country and have acted as advisors in some of the most complex projects carried out in the market to date.

Bankruptcy/restructuring proceedings of Koncern Farmakom:
Included in the team’s personal experience is acting as a key adviser to IFC (International Financial Corporation) on bankruptcy proceeding for Koncern Farmakom, in which there were 8 parallel bankruptcies over 8 different / related companies – recovering EUR 70 Mio. This was unprecedented bankruptcy and restructuring case in Serbian history to date as for the first time the simultaneous bankruptcy process have been triggered against the related parties (8 of them), with no precise legal framework regulating bankruptcies over related parties. We are proud to say that some of the court decisions we have achieved became part of the court practice.

Restructuring of Victoria Group:
The team members have also worked as advisors to IFC in restructuring of Victoria Group, a leading Serbian agricultural company, on the recovery of over EUR 50 Mio.

We have also acted as part of a team of key legal advisers to creditors such as Duferco, Boeringer, Borealis, Atel Energija, in some of the largest bankruptcy proceedings in Serbia, including Interkomerc, Azotara Subotica and Beohemija.

The expertise of the team members extends to representing the Swiss hotel chain COFIS SA, who holds the license for Holiday Inn hotels, in bankruptcy proceedings against several well-known Serbian construction companies and to acting as part of a team of legal advisers in the restructuring of the leading Serbian tire manufacturer Trayal Corporation, the first restructuring case executed during prebankruptcy proceedings in Serbia to date.

Currently, the firm is representing the IFC in the collection of claims in the amount of EUR 15 million in bankruptcy proceedings again the company in Vino Zupa, one of a leading Serbian producer of wine.

Also, we are currently representing the Swiss company in the bankruptcy proceedings over Gold Mine Lece, Medvedja, as its biggest creditor (claim over Mio 90 EUR), where we are acting as the chairman of the Board of Creditors, on behalf of the Client.

Finally, we are advising Swiss/Italian investment fund, in 2 parallel bankruptcy proceedings against 2 different companies in the construction / car battery industry – value of claim EUR 3.5 Mio.

* The information and experience listed represents the personal experience of the legal expert and is not necessarily attributed to work done by Vulic Law.