Skopje, 12th September 2012 (MIA) – Ten and so days following the introduction of the new instrument – debenture, the first ones were issued in the amount of Denar 24 million. Expectations of the Government, according to the present interest of the companies, is that it will start to be applied and will be used by the business community.

– Just few days following the official beginning of the use of the instrument – debenture, the first two debentures were issued in the amount of Denar 24 million. It is a matter of two debentures, where the debtors and the creditors agreed for an instrument to be issued to provide for security for the creditor that it will collect its claims, Vice Prime Minister and Minister of Finance, Zoran Stavreski, said at the press conference held at the Central Registry of the Republic of Macedonia.
According to him, the debenture thus becomes a reality in Macedonia, as another quality, safe and fast instrument to secure the payments, which actually protects, above all, the creditors, i.e. it is to the benefit of the creditors, since it provides for high level of security to the creditors that they will collect their claims from the debtor. However, as he added, this instrument is also useful to the debtors, since they, in a way, will not be treated the same, i.e. companies that show quality performance and want to have a good reputation will not have problems and dilemmas whether to issue a debenture, thus being identified as so-called good debtors, settling their liabilities with this new instrument.

The Minister underlined that the debenture was designed upon request by the business community and it was to the benefit of the businessmen, since it provided for security of collection and collection simplicity.

– One of the advantages is that this is a simple instrument, because, as requested by the businessmen, we have simplified all requirements as regards the procedure necessary to sign this instrument and to be implemented, if need arises. An advantage is that in such manner, long-lasting court proceedings will be avoided, as well as costs related to such proceedings, enabling for the court proceedings to be resolved in a faster manner, and if necessary for the debenture to be effectuated, Stavreski pointed out.

He expressed assurance that on the basis of the interest shown by the companies, the instrument will start to be applied and in these difficult times of deteriorated liquidity in the economy, above all due to the European crisis, private sector will use this opportunity and will use the instrument more often in order to reduce the risk and the uncertainty of payments between the economic entities.

The concept of the debenture, as he stressed, is designed as in the other countries and as requested by the business community.

Director of the Central Registry, Vanco Kostadinovski, pointed out that issuance of the first debentures in the first ten days of its introduction showed that it was a good instrument, which would be accepted by the business community and would play an important role in improving the liquidity of enterprises.

According to him, all preconditions existed for the debenture to become an efficient instrument to collect claims between companies.

The debenture is a title by which the debtor – a company registered pursuant to the Company Law, gives consent for the its liabilities towards a certain creditor to be settled through a forced collection from all of its accounts at the all holders of payment operations. Should the debenture, as an enforcement title, not be collected from the funds, it can be collected from other assets as well. It will not be used as an instrument for collection between the private sector and the state.

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