[vc_row][vc_column width=”1/2″][vc_column_text]The 2005 Serbian Law on Hypothec (Official Gazette of the Republic of Serbia, No. 60/2005), introduced the possibility of out-of-court collection and in particular the so-called ‘subsequent agreements’, allowing appropriation of encumbered real property instead of satisfaction of secured claim (Article 27 of the Law on Hypothec), but had its flaws that were severely