The Commercial Court issued a new decision awarding the bankruptcy trustee "Vektra Jakić" 30 euros from the court's deposit as an advance for conducting the bankruptcy proceedings and allowing the hiring of 12 people during the bankruptcy proceedings, as well as additional security services.
The Office of the Protector of Property Legal Interests of the State filed an appeal against this decision as well, stating that the judge has no right to decide on the amount of money from the deposit exceeding 3.000 euros, as well as that no justified reasons were given for hiring such a large number of workers.
The complaint also states that the bankruptcy administrator's request and the court's decision did not correctly specify the assets of "Vektra Jakić" in bankruptcy, because the majority of these assets were taken over by the Hungarian OTP bank due to unpaid loans, while part of them is owned by the state.
By previous decision to the bankruptcy trustee, from March of this year, Dragan Popović 30.000 euros were also approved, as well as the hiring of 17 people, including the owner of "Vektra Jakić" Dragan Brković for a monthly fee of one thousand euros. This decision was annulled after an appeal from the Office of the Protector.
In the appeal of the protector, it is stated that the bankruptcy administrator explained in the request that "Vektra Jakić" owns property subject to cashing out - sale, which consists of immovable properties registered in LN 3379, 2416, 3131 and 3128 KO Pljevlja, and LN 121 KO Židovići and LN 457 KO Schumann.
"All the listed assets are encumbered by mortgage and fiduciary, and it is the obligation of the bankruptcy trustee to provide for that property, even though there is video surveillance, which according to the bankruptcy trustee is not sufficient. The bankruptcy administrator, with the consent of the court, has already hired as many as 11 people, this time with the omission of Dragan Brković, and in a company that was also declared bankrupt, without specifying the period of engagement. Which is certainly a precedent, bearing in mind that it is a company that cannot and has not been operating for a long time," stated the complaint of the office of the Protector.
She states that with the contested decision, the bankruptcy trustee disposes of state property (court deposit) in excess of 3.000 euros, which is contrary to the law on state property (Article 10, paragraph 1, point 15).
"The hiring of 11 persons, former employees of the bankrupt debtor, is certainly neither a necessary nor a justified expense. In addition, the property recorded in the aforementioned real estate deeds was registered in the B list of real estate deeds at OTP bank NYRT, which the bankruptcy judge apparently did not deal with, and was obliged to do, while the real estate from LN 3131 KO Pljevlja was registered in Montenegro, the disposal of the Municipality Pljevlja. When making such a decision, the court had to take into account the fact that the bankruptcy of the subsidiary company Vekta Montenegro is ongoing, in whose favor the bankrupt here has pledged the real estate in question as a fiduciary and mortgage. It is an unreasoned decision, because the judge does not give reasons for hiring 11 persons, among whom is an accountant, a business secretary and a lawyer, and the other eight are members of the commission on the list. From the decision, it is not clear why so many persons list the property recorded in the real estate deeds, and that of the bank, and not of the bankruptcy debtor here", stated in the appeal of the Office of the Protector.
In the appeal, it is recalled that the principle of economy dictates that the bankruptcy procedure be conducted in a way that enables the realization of the highest possible value of the bankrupt debtor's property and the highest possible degree of settlement of creditors in the most efficient way, in the shortest possible time with the lowest costs.
"While judging by this behavior of the court and the bankruptcy administrator, this bankruptcy procedure will be reduced to the payment of costs to the engaged persons, and ultimately from the budget," the complaint stated.
The former giant fell to the basement of 25 square meters
In the new decision of the Commercial Court, six real estate sheets are listed in which, according to the bankruptcy administrator, the property of "Vektra Jakić" in bankruptcy is located.
By reviewing these sheets in the electronic cadastre database, "Vijesti" found that in four sheets there are properties that are now registered with OTP bank "one through one" due to debts on two loans of 53 and 73 million euros, in one sheet the property is now registered to the state and the Municipality of Pljevlja, while the fourth sheet contains the property of several owners, and "Vektra Jakić" refers only to the basement of 25 square meters.
Thus, 18 years after privatization, the former giant of wood processing fell into a basement of 25 square meters.
Brković's "Vektra Montenegro" bought the property of the factory for 1,6 million euros in July 2006. At that time, investments of at least six million and employment of 320 workers were promised. The company was later pledged for a loan of 55 million euros, and was the guarantor for another loan of "Vektra Montenegro" of 73 million.
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