IRF collected part of the debt from "Cijevna Commerce"

At the end of May, the Investment and Development Fund initiated a dispute before the Commercial Court in order to collect unpaid loans worth 3,8 million from the property of the company "Cijevna Komerc".

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Danilo Petrović, Photo: Luka Zekovic
Danilo Petrović, Photo: Luka Zekovic
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.

The debt of 3,8 million euros, which the Investment and Development Fund (IRF) is trying to collect from the property of the company "Cijevna Commerce" was reduced by 1,9 million euros, after the public executor Vladimir Vujotić sold one of the mortgaged properties of the private company.

In addition, there is an offer for the rest of the mortgage, which could pay off the remaining debt.

This was said at the hearing in this court yesterday by IRF lawyer Dimitrije Šaranović. The lawyer of the company "Cijevna Commerce" Danica Radulović stated that she believes that there are no conditions for execution because the pledge is not constituted under the Pledge Act as a means of security. Judge Radmila Perović postponed the hearing in order to review the files of the public executor and the statements of the state and private companies, and scheduled the continuation of the dispute for March 4.

At the end of May last year, the IRF initiated a dispute in the Commercial Court against the company "Cijevna Commerce", which is owned by the family of businessman Danilo Petrović, in order to collect loans from the property of this company that were not returned to the fund. The value of the dispute is 3,8 million euros. The loans were given to other companies owned by this businessman's family, namely the companies "Cijevna komerc" and "Montenegro premier".

As the IRF previously told "Vijesta", the pledged movables - vehicles, were issued as one of the collaterals for the loans granted to these two companies, and the execution procedure was initiated after the termination of the loan agreement and the maturity of all obligations of the two companies. These three companies have blocked accounts in the total amount of 56,79 million euros.

Šaranović emphasized that there is an offer for the remainder of the mortgage, which would mean that the debt was collected under this procedure as well. He submitted to the court the conclusions of the public bailiff from January 19 and 20 of this year.

Radulović stated that there are no conditions for execution because the pledge is not constituted as prescribed by the Law on Pledge as a means of security. She stated that the existence of a pledge agreement is necessary, and that "Cijevna Commmerc" initiated proceedings for the nullity of the same, for which she attached evidence.

The court scheduled the continuation of the dispute for March 4 in order to inspect the files of public bailiff Vladimir Vujotić.

The account of the company "Cijevna Commerce" has been continuously blocked since October 2020, and according to the latest data from the Central Bank, it owes EUR 16,48 million. The account of "Cijevna komerc" in the amount of 24,21 million euros has also been blocked since April of that year. The decision on the reprogramming of the tax debt in the amount of 3,77 million was canceled for this company.

The account of the company "Montenegro Premier" has also been blocked since November 2019, and it owes 16,1 million euros.

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