Bankruptcy law in the Republic of Macedonia

Insolvency legislation reform in the country began back in 1997 when the new bankruptcy law was enacted and published in the “Official Gazette” in October 1997. It entered into force on 6 November 1997 and came into effect on 5 June 1998. With the enactment of this new law, the former “Law of Forced Settlement, Bankruptcy and Liquidation”, as state regulation, used after the breakup from Yugoslavia, was replaced and not used anymore.
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