Domestic Cooperation
The Bankruptcy Supervision Agency and the Chamber of Commerce and Industry of Serbia signed a Memorandum of Cooperation in 2014, with the aim of strengthening the economy and supporting the economic development of the Republic of Serbia.
Within the framework of this cooperation, and with the support of the Chamber of Commerce of Serbia and regional chambers, a large number of educational programmes and professional seminars for bankruptcy administrators have been implemented.
The Bankruptcy Supervision Agency and the Judicial Academy of the Republic of Serbia concluded a Cooperation Agreement in 2024, with the objective of enhancing expertise, professionalism and efficiency in the field of bankruptcy and commercial law, as well as strengthening links between judicial and regulatory institutions.
The Agency, as an institution performing professional and regulatory duties in the field of bankruptcy, and the Academy, as an educational institution contributing to the professional and efficient performance of judicial functions, share a common goal – strengthening professional capacities and improving the quality of work within the judicial and commercial systems of the Republic of Serbia.
This Agreement confirms the commitment of both institutions to jointly contribute to enhancing legal certainty, improving the efficiency of bankruptcy proceedings and further developing the judicial profession in the Republic of Serbia.
The Bankruptcy Supervision Agency and the Statistical Office of the Republic of Serbia signed a Cooperation Agreement in 2025.
The objective of the Agreement is to enhance cooperation in the areas of data provision and exchange, reporting and knowledge sharing, in order to improve statistical data quality and support decision-making based on timely and reliable indicators, in line with national and international requirements and the positive legal regulations of the Republic of Serbia.
The Bankruptcy Supervision Agency and the company PARAGRAF LEX have established cooperation with the aim of improving access to information and professional development for bankruptcy administrators in the Republic of Serbia.
This cooperation includes the exchange of professional information, monitoring and implementation of bankruptcy legislation.
Through PARAGRAF LEX publications, collections of legal regulations, issues of the journal “Bankruptcy Instructor”, and other specialised publications in the field of bankruptcy law have been issued, representing an important source of theoretical and practical knowledge for all participants in bankruptcy proceedings.
International Cooperation
In order to strengthen the regulatory and institutional capacities of the Agency in performing its entrusted and other tasks, and to promote the development of the profession of bankruptcy administrators, particular importance is given to:
- membership in international associations,
- participation in international projects,
- cooperation with national bankruptcy regulators from other countries, and
- monitoring of bankruptcy regulations and best practices in other jurisdictions.
Over the years, the Agency has built partnerships with numerous international organisations and regulators. The most significant outcomes of that cooperation are presented below.
About the Association
The International Association of Insolvency Regulators (IAIR) is a global association of government departments, ministries, agencies and public authorities responsible for insolvency policy, legislation, regulation, supervision and administration.
Established in 1995, it currently brings together 40 member jurisdictions, including the United Kingdom, India, Canada, the United States, Australia, the Czech Republic, Finland, Poland, Hong Kong, Chile, South Africa and others.
Cooperation with the Agency
The Bankruptcy Supervision Agency has been a full member of IAIR since 2006, as the first institution from the region of Central Europe and the Balkans to join the Association.
Through its membership, the Agency actively participates in the exchange of professional knowledge and best practices in the field of bankruptcy, aiming to improve the national system, develop the profession of bankruptcy administrators and align domestic practices with international standards.
Key Activities and Results
In 2022, the Agency became a member of the Executive Committee and, in September 2022, was elected Chair of the IAIR Executive Committee.
As Chair, the Agency organised the 2023 IAIR Annual Conference, held in Belgrade in September 2023.
In 2024, Agency representatives participated in the panel discussion “New Approaches to the Supervision of Bankruptcy Administrators”, and in 2025 in the panel “Ethical Practices in the Context of Insolvency Supervision” and the workshop “Supervision of Bankruptcy Administrators and Capacity Building”.
Notable Events
In 2007, IAIR and the Agency co-organised the Fourth International Insolvency Workshop in Belgrade.
In 2023, the Agency hosted the IAIR Annual Conference and General Assembly, held from 18 to 21 September 2023 in Belgrade.
The main topic of the conference was “Digitalisation / IT Developments in the Insolvency World”, with a particular focus on the digitalisation of bankruptcy proceedings and its importance for system efficiency and economic growth.
The conference gathered a record number of participants – 63 delegates from 26 countries and 33 organisations, including representatives of the World Bank, IMF and EBRD.
Following the successful organisation of the conference, the Agency was re-elected to the IAIR Executive Committee in 2023, 2024 and 2025, continuing its active participation in meetings, seminars, webinars and annual conferences.
About the Institution
The International Finance Corporation (IFC), part of the World Bank Group, was established in 1956 and is headquartered in Washington, D.C., USA. The Corporation supports access to finance on international capital markets, provides risk management and bridge financing products, offers a broad range of advisory services and technical assistance to enterprises and governments, and mobilises and manages funds for institutional investors.
Cooperation with the Agency
Since 2015, the Bankruptcy Supervision Agency has actively cooperated with IFC within the framework of training programmes for bankruptcy administrators and capacity building for the Agency. The cooperation includes the organisation of seminars, webinars and annual professional gatherings of the Agency. The purpose of this cooperation is to improve the expertise and knowledge of bankruptcy administrators and to align practices with international standards.
Key Activities and Results
- Support for the organisation of numerous seminars, webinars and annual professional gatherings of the Agency since 2015.
- In 2020, marking the 15th anniversary of the Agency, two printed editions of the Bankruptcy Manual were published in cooperation with IFC, covering the most important topics in bankruptcy regulation, case law, methodology and guidelines for the work of bankruptcy administrators.
- The Manual provides a comprehensive overview of the complexity of bankruptcy matters and serves as a practical guide for administrators and other stakeholders.
Cooperation with IFC enables continuous improvement of professional standards in the insolvency sector and strengthens the Agency’s capacity to perform entrusted and professional tasks, contributing to the development of a transparent and efficient bankruptcy system in the Republic of Serbia.
The Bankruptcy Supervision Agency actively cooperates with state regulators from other countries with the aim of enhancing expertise, exchanging experiences and developing best practices in the field of bankruptcy. This cooperation enables the comparison of national models of professional supervision over the work of bankruptcy administrators, the implementation of international standards and the development of IT solutions for monitoring and controlling their work.
Cooperation
In 2024 and 2025, significant exchanges of experience were achieved with insolvency regulators from Sweden, Finland, Latvia, Lithuania, Estonia and Poland.
Key Activities and Results
- August 2024: Agency representatives participated in a working meeting of state insolvency regulators and presented the Serbian system of professional supervision and IT solutions developed by the Agency.
- December 2024: The Agency hosted a two-day working meeting in Belgrade with the Estonian delegation, introducing them to the Agency’s supervisory mechanisms and IT solutions, as well as Estonia’s electronic sales system.
- September 2025: Participation in a meeting of state regulators on the topic “Supervision of Bankruptcy Administrators as a Tool for Preventing Professional Collusion in Economic Crime”, with a focus on various European approaches to identifying and preventing professional misconduct in insolvency.
Cooperation with foreign regulators has contributed to improving the national system of professional supervision and implementing best European practices in Serbia.
About the Institution
The European Bank for Reconstruction and Development (EBRD) began its operations in 1991. The Bank uses investments and its influence to support the transition of former centrally planned economies towards open markets and democracy. The EBRD promotes entrepreneurship, prosperity and stability through investments, mobilisation of foreign direct investment and its own financing across 27 countries, from Central Europe to Central Asia, with the aim of improving the lives of around 400 million people.
Cooperation with the Agency
The Agency’s cooperation with the EBRD began in 2004 through support in the preparation of national standards and a Code of Ethics for bankruptcy administrators, developed with the assistance of international experts. These documents, adopted in 2004 and revised in 2009, form the foundation of professional practice in Serbia and are harmonised with international standards.
Key Activities and Results
- In 2021, cooperation was renewed with a focus on strengthening the Agency’s institutional capacities, IT infrastructure and development of statistical reporting in the field of insolvency. EBRD assisted in assessing needs and developing methodologies for new Agency functions in line with legislative amendments.
- In 2024, within a regional pilot project, the EBRD and the Agency conducted a training programme for bankruptcy administrators, based on domestic legislation and practice, involving national and international experts. The training was tailored to the diverse structure of the profession in Serbia, with an emphasis on practical needs and professionalisation.
- The cooperation resulted in practical manuals for bankruptcy administrators and numerous professional seminars, which have significantly contributed to enhancing the quality of the profession in Serbia.
Cooperation with the EBRD has enabled the strengthening of professional standards and the Agency’s institutional capacities, as well as the continuous development of an efficient, transparent and harmonised bankruptcy system in the Republic of Serbia.
About the Institution
The German Agency for International Cooperation (GIZ – Deutsche Gesellschaft für Internationale Zusammenarbeit) implements projects in numerous countries on behalf of the German Government. It has been present in Serbia for over 20 years, with the aim of supporting the country’s European integration, strengthening economic efficiency and improving the living standards of citizens.
Cooperation with the Agency
The Bankruptcy Supervision Agency’s cooperation with GIZ (previously GTZ) was implemented through the projects “GTZ Professional Training for Licensed Bankruptcy Administrators” and “GIZ Programme for Legal and Judicial Reform in Serbia”.
Key Activities and Results
- From 2007 to 2015, with GIZ support, the Agency organised numerous professional gatherings, seminars, workshops and panel discussions.
- Two joint international conferences for the South-East Europe region were held in 2008 and 2009.
- In 2015, in cooperation with GIZ, the manual “Challenging Legal Acts of the Bankrupt Debtor” was published as an important practical tool for bankruptcy administrators.
Cooperation with GIZ has enabled continuous professional development of bankruptcy administrators, strengthening of professional standards and the advancement of a transparent and efficient insolvency system in the Republic of Serbia.
About the Association
INSOL International is a global federation of national associations of professionals specialising in restructuring and insolvency, founded in 1981 in France. It currently comprises over 44 member associations representing more than 12,500 professionals, including judges, regulators, lenders and academics.
INSOL Europe is its European branch, with over 1,300 members across 50 countries, including lawyers, accountants, judges, regulators, academics, bankers and insolvency practitioners. The organisation contributes significantly to the work of European and international institutions in the field of insolvency and restructuring.
Cooperation with the Agency
The Bankruptcy Supervision Agency, in cooperation with INSOL Europe, has actively participated in regional and international activities aimed at developing professional knowledge and standards of the insolvency profession in Serbia.
Key Activities and Results
- In 2007, the Agency organised the Third Conference of the INSOL Europe Accession Countries Committee (ACC INSOL Europe) in Belgrade – the first such event in the South-East European region – attended by 214 delegates from over 20 countries.
- A representative of the Agency served as a member of the INSOL Europe Executive Committee from 2007 to 2013 and was awarded the Richard Turton Prize in 2006.
Cooperation with INSOL Europe has enabled the strengthening of professional standards and the knowledge of bankruptcy administrators in Serbia, as well as the integration of the Agency into European and international professional networks in the field of insolvency and restructuring.
