Hotel-tourist company Banja Koviljaca goes bankrupt

(Photo: loznica.rs)

The hotel-tourist company, Banja Koviljaca, went bankrupt, with the Decision of the Commercial Court in Valjevo, current Executive Manager, Zivota Isakovic, confirmed today for Beta agency.

He said that the first degree trial was scheduled for December 1 and the second February 25, 2015, do when all trustees should register their claims.

- Bankruptcy will end further property sale by court executors and trustee in bankruptcy will consider the company situation and estimate how trustees will be paid – Isakovic said.

Bankruptcy led to job loss for 35 employees from Banja Koviljaca and they are now registered at the Employment Bureau registry.

Current company debt is RSD 140 m and it owns 21 salaries to the staff.

Banja Koviljaca became a state-owned company in January 2010. The state previously provided a social program for sixty employees.

The privatization process started in May 2002 and due to difficulties in defining social and state-owned property, the company has not been sold so far.