Black book of bad GMs in mid-2015

(Photo: Ivana Vuksa)

Public discussion about the draft of the law on sanctioning of irresponsible heads should start in two weeks, the head of the Agency for Business Registries, Zvonko Obradovic, who expects that in late October the law will enter assembly procedure and become effective as of mid-next year, has announced today.

At RTS, Obradovic explained that one of the first versions of the law was developed and that they will open public discussion with the Ministry of trade in the next two weeks.

He added that the law is one of the mechanisms to create better business environment and that in the future, when it is established that a manager is taking the company in bankruptcy deliberately or that he has a legal violation he or she is registered in a special (black list) evidence which will disable him or her to register new company, acquires new managerial rights and be the company head

Obradovic reminded that some 90.000 companies and entrepreneurs have been blocked longer than 180 days and that the new law will not imply automatic disqualification just like in some other countries in the regions has but that deadline will be provided.

- As for now, we are thinking of a deadline of 60 days and it may be longer. We have the Law on payment deadlines which is 45 days and we have to be honest since the state also owns to companies often so we see 60 days and 120 days as a realistic deadline– Obradovic added.

So far, there were cases when managers were pushing companies in bankruptcy procedure deliberately, to make the company blocked for longer time and then they set up a new one which continues the same operations and trustees are damaged.