FBiH Government adopts Draft Law on Extraordinary Administration Procedure in Nova Željezara Zenica

(Patria) - The Government of the Federation of BiH has adopted the Draft Law on the Extraordinary Administration Procedure in the economic entity Nova Željezara Zenica d.o.o. Zenica, of special systemic importance for the FBiH, with the aim of protecting jobs, preserving domestic industry, and ensuring the stability of the economic system of the FBiH.

The Draft Law will be sent to the Parliament of the Federation of BiH under an urgent procedure, with a request for an urgent session of both houses of the Parliament of the Federation of BiH.

The proposed law represents a special, urgent, and court-controlled mechanism by which the Federation of BiH, for the first time, gains a systemic instrument to prevent uncontrolled bankruptcy and the closure of companies whose consequences would far exceed Željezara itself.

FBiH Prime Minister Nermin Nikšić stated that the FBiH Government will not allow strategically important industrial systems to be shut down without a fight and without an attempt to save production and jobs.

- It would have been easiest for us to turn a blind eye and let things take their course. However, a responsible government does not do that. We do not want to see plants closing, workers leaving, and industries that have fed thousands of families for decades disappearing.

This law was not created to destroy anything, but to enable stabilization, protect jobs, and seek a sustainable solution for the company and the people who depend on it. Željezara is not just a problem for Zenica, but an issue for the economy of the FBiH - said Nikšić.

Federal Minister of Energy, Mining and Industry Vedran Lakić emphasized that it is the duty of institutions to protect not only the workers of Željezara but also the entire chain of companies and activities related to its operations.

- It is not just the jobs within Željezara that are threatened here. Behind this system are dozens of other companies, subcontractors, transport and energy firms, as well as thousands of families who directly or indirectly depend on the operation of this industry.

Therefore, it is important for people to understand that the goal of the FBiH Government is not bankruptcy and closure, but saving production, preserving industrial capacities, and creating space for the company's recovery - said Lakić.

He added that the proposed law allows for the preservation of the company's value as a business entity, the continuation of operations under the supervision of an extraordinary administrator and the court, temporary protection from individual forced collections through a moratorium, transparent determination of claims, and the development of a restructuring plan aimed at business recovery and more favorable settlement of creditors.

- Workers should know that the FBiH Government will not give up on domestic industry and that we will do everything possible to protect production, jobs, and the stability of the system. This is a law that should provide an opportunity for recovery, not closure - Lakić stated.

Special attention in the law is paid to protecting the rights of workers, suppliers, and creditors, with full judicial control, transparency, and clear procedural rules.

The law does not represent nationalization or expropriation of private property, but rather a legal framework that enables the stabilization of the company and the protection of public interest in situations where uncontrolled bankruptcy could cause serious economic and social consequences.