DUE TO A DEBT OF 60 MILLION EUROS: After two years of proceedings, bankruptcy in the company Vektra Montenegro

The Swiss NLB Interfinans requested a two-year procedure for examining the reasons for the introduction of bankruptcy, initiated due to a debt of 60 million euros. During that time, hearings were postponed several times due to the request of both sides, due to the absence of the bankruptcy trustee, expert and judge Zoran Ashanin, who rejected the request for exemption and sent the files to Judge Blaž Jovanić.

We will remind you, Vektra Montenegro has been the owner of a huge “Bokina” property since December 2007. Since the announced large investments, promised investment of 360 million euros, construction of four new hotels, employment of 1,200 people, nothing has happened. Hotel “Tamaris” has been completely demolished , hotel “Igalo” partially, part of the property sold and the rest left to decay.

Vektra Boka went bankrupt in 2015 and the company now has only 16 employees. At the time of the introduction of bankruptcy, there were about 120 of them. Those who left took their work books without paying what they earned.

Bankruptcy in Vektra Montenegro was originally opened in 2012, but the reorganization plan was adopted two years later. It provided for the transfer to the bank of land and facilities registered in the real estate deeds in Becici worth 18.8 million euros, while the rest of the debt was to be paid within the third payment order. That was not realized either, and NLB Interfinan filed for bankruptcy in March last year.

Judge Ashanin called on the creditors of this company to report their claims by mid-February and scheduled a meeting of creditors for February 16. The examination of the claims is scheduled for the beginning of March, and he appointed Radojica Grba as the bankruptcy trustee.

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