May 31, 2021

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From: Vuković & Partners

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Category: Banking and Finance, Newsroom, News

ODM Collections, our long-standing client...

ODM Collections, our long-standing client, delivers webinar on collection of accounts receivable during the Covid-19 pandemic

On 27 May 2021, our long-standing client ODM Collections, which specialises in the collection of non-performing receivables, delivered a webinar on collection of accounts receivable during the Covid-19 pandemic. The event was hosted by the Chief Financial Officers Association of Serbia (CFOAS).

Dejan Vuković and Predrag Miladinović, senior partners at our law firm, took part in the webinar as guest lecturers.

Dejan Vuković spoke at length about the legal aspects and stages of receivables purchase transactions, as well as the legal implications of outsourced receivables financing and developments to these types of legal services. He also explained the impact of these trends on collection and optimisation of companies’ internal resources.

Predrag Miladinović presented the relevant legal framework for collection of commercial accounts receivable and referred to the findings of research undertaken by our law firm together with the USAID Mission to Serbia on theLiquidity Studyproject. This review revealed that regulatory arrangements were not the major obstacle to collecting non-performing receivables, which was, rather, constrained by the companies’ internal processes that could see significant improvement. Predrag also commented on recommendations made by the European Central Bank for improving the monitoring and collection of non-performing receivables given the elevated risk caused by the Covid-19 pandemic, which could be implemented by individual firms as a useful tool to mitigate credit risk. Lastly, he also spoke about the regulatory changes expected in the upcoming period.