Combining methods of sale of bankruptcy debtor's property

Abstract

Serbian Law on Bankruptcy provides for three methods of sale of bankruptcy debtor’s property: public auction, public collection of offers and direct agreement. The case law raises the question of the (im)possibility of combining the methods of sale of the bankruptcy debtor’s property. For example, the question arises whether it is possible to sell the bankruptcy debtor’s property, firstly, by conducting a public collection of offers, and after that a public auction, in order to reach the highest possible value of the bankruptcy debtor’s property. Hence, the main question in this paper is whether it is possible to combine the methods of sale of the bankruptcy debtor’s property, if it represents a way of achieving the highest value of the bankruptcy debtor’s property. This issue is important, given that the main aim of bankruptcy shall be to ensure the most favorable collective settlement of bankruptcy creditors by achieving the highest possible value for the bankruptcy debtor’s property.