NEW RESTRICTIONS IN ENFORCEMENT PROCEEDINGS IN FBIH

New amendments to the Law on Enforcement Proceedings in the Federation of Bosnia and Herzegovina have just come into effect. The amendments additionally protect the FBiH and other public bodies from enforcement proceedings against their assets and restrict the sale of a debtor's real property at a third public auction without an acceptable minimum bid value in general. The amendment affects all creditors which have an enforceable deed against the FBiH or its public bodies, preventing them from settling their claims out of the shares and securities held by these bodies.

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The restriction on minimum value of an acceptable minimum bid value at the third public auction affects mostly the banks, as well as other creditors which have initiated enforcement over the real property, reducing the chances for success of property sale at the third auction, especially because the relevant mechanism for determination of the applicable minimum value is not clearly regulated.

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