It is too early to say what Radulović's moves are

The Commercial Court does not yet have information about the measures taken by the new bankruptcy administrator of the former national airline "Montenegro Airlines" (MA). Milan Radulović undertaken in this case to date.

Acting president Diana Raickovic She explained to "Vijesta" that Radulović was appointed to the position of bankruptcy administrator on September 19 and that he could not prepare the report he was obliged to submit in that short period of time.

Bankruptcy in the former national airline was introduced at the end of April 2021 at the request of the Revenue and Customs Administration due to a tax debt of 11,9 million euros.

A judge was recently appointed as bankruptcy judge in this case Ivan Kovačević. The bankruptcy judge in this case was until recently the president of the Commercial Court Blazo Jovanić who has been in custody since May 9, on suspicion of abusing his official position and being the leader of an organized criminal group that acted illegally in 10 bankruptcy cases. Among those arrested is the former bankruptcy administrator of MA Saša Zejak.

"We were informed by the acting judge that Milan Radulović was appointed bankruptcy administrator in the case in question in accordance with the legal provisions governing the status and appointment, that is, the dismissal of the bankruptcy administrator. It is an independent body of bankruptcy proceedings that undertakes actions within its legal jurisdiction. For the purpose of notifying the court and the parties, the bankruptcy administrator submits appropriate reports in the procedure on the actions taken under his legal jurisdiction. Bearing in mind the date of appointment, September 19, it is clear that the new bankruptcy trustee could not prepare the same in a short time since he recently took office. Regarding the aforementioned, the court does not yet have data from which it would be possible to provide more detailed information about the actions taken so far," Raičković said.

"Vijesti" asked whether the MA case will be returned to the beginning, whether the reported claims of the state and the Revenue and Customs Administration will be considered again, as well as whether a creditors' committee will be formed, which the former bankruptcy administrator refused to do.

Raičković clarified that in bankruptcy proceedings, some decisions cannot be changed, and some can.

"In bankruptcy proceedings, as in other proceedings, certain decisions are made, that is, actions are taken that create legal consequences, some of which cannot subsequently be changed, while others can be changed, that is, new actions are taken that discuss a certain legal relationship or the consequences of a certain action in procedure, and all in accordance with certain legal provisions. The issue of settlement, that is, the status of creditors, is resolved in the proceedings so that the court cannot assume what actions the bankruptcy trustee, that is, the creditors, will take and what the outcome of the proceedings will be in relation to the claims of individual creditors, since they are not discussed in the proceedings that is ongoing," Raičković explained.

In his statement to "Vijesti" in April of this year (before his arrest), Zejak did not specify what had been sold so far from the MA and in what value, saying that all the money from the cashed-out property was reserved in a separate account, while the failure to adopt the Reorganization Plan "was hindered by the application of the Protector property-legal interests of the state, which claims 104 million euros on the basis of state aid". Zejak believed that the application was unfounded.

He also said that his work is being made difficult by other state bodies, among them the ministries of defense and economic development, and he announces the initiation of lawsuits against all state institutions that "create obstructions and interfere with bankruptcy."

So far, none of the creditors to whom MA owes tens of millions of euros has managed to collect any of their money, and the worst of all so far has been the state to which Zejak did not acknowledge about 100 million that it had given to the company in various ways in the past years.

Zejak recognized 169,7 million of the reported 33,87 million claims, of which 17,3 million were recognized to former employees, 6,3 million to the Air Traffic Control of Serbia and Montenegro (SMATSA), 7,1 million to the Airports of Montenegro...