Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights

This Technical Note (TN) examines the current state of NPLs in Montenegro, assesses the regulatory and supervisory framework as well as the insolvency and creditor rights regime, and makes recommendations for strengthening the framework. The analys...

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Main Authors:	Jaeger, Johanna, Rouillon, Adolfo, Abrahams, Scott David
Format:	Report
Language:	English en_US
Published:	World Bank, Washington, DC 2016
Subjects:	CREDITOR RIGHTS INSOLVENCY SYSTEM LEGAL FRAMEWORK LIQUIDATION NONPERFORMING LOAN REORGANIZATION RESTRUCTURING WORKOUT
Online Access:	http://documents.worldbank.org/curated/en/2016/04/26216738/montenegro-financial-sector-assessment-program-framework-nonperforming-loans-workout-insolvency-creditor-rights-technical-note http://hdl.handle.net/10986/24128

id	okr-10986-24128
recordtype	oai_dc
spelling	okr-10986-241282021-05-25T10:54:44Z Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights Jaeger, Johanna Rouillon, Adolfo Abrahams, Scott David CREDITOR RIGHTS INSOLVENCY SYSTEM LEGAL FRAMEWORK LIQUIDATION NONPERFORMING LOAN REORGANIZATION RESTRUCTURING WORKOUT This Technical Note (TN) examines the current state of NPLs in Montenegro, assesses the regulatory and supervisory framework as well as the insolvency and creditor rights regime, and makes recommendations for strengthening the framework. The analysis was carried out as part of the 2015 Financial Sector Assessment Program (FSAP), and was based on the legal and regulatory framework in place, the supervisory practices employed, and other conditions as they existed as of September 2015. The TN evaluates the legal, regulatory, and supervisory regimes in four key areas: (i) creditor rights and enforcement systems (for secured and unsecured credit); (ii) debt recovery and informal enterprise workout practices; (iii) formal insolvency system (liquidation and reorganization proceedings); and (iv) effectiveness of the relevant institutional, regulatory and supervisory frameworks in implementing laws, regulations, and supervisory requirements in this area. In addition, the TN assesses recent efforts at NPL resolution, including the implementation of a newly enacted law on voluntary out-of-court restructuring, and the role of special purpose vehicles. 2016-04-25T18:49:34Z 2016-04-25T18:49:34Z 2016-03 Report http://documents.worldbank.org/curated/en/2016/04/26216738/montenegro-financial-sector-assessment-program-framework-nonperforming-loans-workout-insolvency-creditor-rights-technical-note http://hdl.handle.net/10986/24128 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Financial Sector Assessment Program Europe and Central Asia Montenegro
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	English en_US
topic	CREDITOR RIGHTS INSOLVENCY SYSTEM LEGAL FRAMEWORK LIQUIDATION NONPERFORMING LOAN REORGANIZATION RESTRUCTURING WORKOUT
spellingShingle	CREDITOR RIGHTS INSOLVENCY SYSTEM LEGAL FRAMEWORK LIQUIDATION NONPERFORMING LOAN REORGANIZATION RESTRUCTURING WORKOUT Jaeger, Johanna Rouillon, Adolfo Abrahams, Scott David Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
geographic_facet	Europe and Central Asia Montenegro
description	This Technical Note (TN) examines the current state of NPLs in Montenegro, assesses the regulatory and supervisory framework as well as the insolvency and creditor rights regime, and makes recommendations for strengthening the framework. The analysis was carried out as part of the 2015 Financial Sector Assessment Program (FSAP), and was based on the legal and regulatory framework in place, the supervisory practices employed, and other conditions as they existed as of September 2015. The TN evaluates the legal, regulatory, and supervisory regimes in four key areas: (i) creditor rights and enforcement systems (for secured and unsecured credit); (ii) debt recovery and informal enterprise workout practices; (iii) formal insolvency system (liquidation and reorganization proceedings); and (iv) effectiveness of the relevant institutional, regulatory and supervisory frameworks in implementing laws, regulations, and supervisory requirements in this area. In addition, the TN assesses recent efforts at NPL resolution, including the implementation of a newly enacted law on voluntary out-of-court restructuring, and the role of special purpose vehicles.
format	Report
author	Jaeger, Johanna Rouillon, Adolfo Abrahams, Scott David
author_facet	Jaeger, Johanna Rouillon, Adolfo Abrahams, Scott David
author_sort	Jaeger, Johanna
title	Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
title_short	Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
title_full	Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
title_fullStr	Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
title_full_unstemmed	Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights
title_sort	montenegro financial sector assessment program : framework for nonperforming loans workout and insolvency and creditor rights
publisher	World Bank, Washington, DC
publishDate	2016
url	http://documents.worldbank.org/curated/en/2016/04/26216738/montenegro-financial-sector-assessment-program-framework-nonperforming-loans-workout-insolvency-creditor-rights-technical-note http://hdl.handle.net/10986/24128
_version_	1764455720729706496

Montenegro Financial Sector Assessment Program : Framework for Nonperforming Loans Workout and Insolvency and Creditor Rights

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