December 03, 2013


PRESS RELEASE
After reviewing the Law on State Interests Protection in Mining and Metallurgy Sector, the President of Montenegro, pursuant to Article 94, Paragraph 1 of the Constitution of Montenegro, sent back this law to the Parliament for reconsideration.

The President assessed that this law has obvious collision of Articles 1 and 2, by which application of bankruptcy procedure is confirmed, which in the sense of the Law on Bankruptcy (“Official Gazette of Montenegro No. 1-2657/2/10) is implemented by the Bankruptcy Court and Article 3 Paragraph 4 of this law by which the decision on sale to strategic investor is conditioned by the consent of the Parliament of Montenegro. On the basis of such regulation the Parliament directly decides on the outcome of bankruptcy, thus assuming responsibility of the Bankruptcy Court, which exclusively and imperatively belongs to judicial authority, in which way the law has a clear internal collision.


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