The Council of the Central Bank (CBCG) yesterday adopted the working version of amendments to the law on bankruptcy and liquidation of banks, which, according to "Vijesti" information, the World Bank (SB) insisted on in order to approve a new guarantee to the state of 80 million euros for budget financing purposes on which negotiations are ongoing. According to unofficial information from "Vijesti", a draft amendment to that law was prepared with the aim of introducing bankruptcy in Atlas and IBM Bank owned Duško Knežević. From the supreme monetary institution, headed by the governor Radoje Žugić, yesterday told "Vijesta" that the amendments to the Law on Bankruptcy and Liquidation of Banks have nothing to do with the situation in Knežević's banks, where compulsory administration was introduced, and the requirements of the SB, but rather the fulfillment of the state's obligation to harmonize legislation with European directives.
"Today's session of the Council is not scheduled according to an urgent procedure, but rather a regular session. The session is scheduled for 21.12.2018. year, in accordance with the rules of procedure of the CBCG Council and the law on the CBCG, and according to the dynamics of the implementation of activities from the CBCG work program. On the agenda of the session, in addition to other items, there was consideration of the working versions of the draft law on credit institutions, the draft law on the rehabilitation of credit institutions and the draft law on amendments to the law on bankruptcy and liquidation of banks. The preparation of the working versions of the mentioned laws is not conditioned by the reasons you refer to in your questions, but it is a question of fulfilling the state's obligation to harmonize its legislation with EU directives", was the official answer yesterday to the "News" from the CBCG.
The CBCG explained that the 2019-2020 accession program of Montenegro to the EU. the planned adoption of these laws during the fourth quarter of 2019, while their implementation is planned from October 2020.
On December 7, the CBCG introduced a temporary administration in Knežević's banks, which on December 10 implemented a moratorium on all payments, except for salaries, pensions and social benefits. The moratorium will last 45 days, ie until January 23. Žugić recently said that all clients who have deposits in Atlas and IBM Bank will be paid up to 50.000 euros after the 45-day moratorium expires, and that the 50.000 is a legally guaranteed deposit. In the official announcement after the Council session, it was stated that, in addition to the working version of amendments to the law on bankruptcy and liquidation of banks, the working version of the draft law on credit institutions and the draft law on the rehabilitation of credit institutions were also adopted "The goal of preparing the working versions of the law is to harmonize the national legislation with Directive 2013/36 EC (so-called CRD) in the segments related to access to the activities of credit institutions and investment companies, management modalities of these institutions and the framework for their supervision, as well as with Directive 2014/49 EC on the establishment of a framework for recovery and rehabilitation credit institutions and investment companies (so-called BRRD). The adoption of the Law on the Rehabilitation of Credit Institutions, which is expected at the end of next year, will improve the legal basis for the application of instruments for timely intervention in a bank in trouble in order to ensure the continuation of the bank's key financial and economic functions, while at the same time limiting the impact of the bank's collapse on the economic and financial system to the smallest possible extent and with minimal possibilities that the costs of rehabilitation, in the end, will be borne by taxpayers", the announcement states.
Atlas asks to be told how much money is needed for recapitalization
Atlas Group announced yesterday that they expect the special state prosecutor (SDT) Milorad Katnić to stop terrorizing their employees, and that the latest example of such behavior was the detention of Atlas Bank employee Biljana Bašović two days ago. Bašović is a long-time employee of the accounting department of Atlas Bank and the daughter of Brankica Bašović, one of Knežević's closest collaborators.
"She recently returned from maternity leave, she is the mother of small children and there is no reason to be detained. Such moves by the SDT are a continuation of the pressure on employees in the farcical investigation into alleged money laundering. This is the current suspicion of the SDT, after suspicions of tax evasion came to light. Thus, these will also fall into the water, especially since the SDT must be familiar with the document of the Central Bank, which, checking the operation of the e-commerce service, found that it is fully carried out in accordance with the regulations", the announcement states.
As it was added, the temporary administration in Atlas Bank would have to act in accordance with the regulations, and that is why the lawyers of the Atlas Group requested the immediate suspension of the decision on the sale of part of the bank's movable property, because otherwise the bank's shareholders will initiate proceedings before the court.
It is also stated that they informed the temporary manager Tanja Terić to provide them with the amount of capital necessary for recovery so that they could provide adequate evidence of the ability to recapitalize, but that she has not yet done so.
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