Sale of property of Zrenjanin-based Luxol scheduled for March 14th

Bankruptcy manager of Zrenjanin-based Luxol, Milan Nicetin, has scheduled the sale of the property of that manufacturer of chemical and cosmetic products for March 14th, the proceeds of which will be used to pay debts to creditors.

Luxol plans to sell its production facilities, warehouses and equipment situated in Pancevacka Street in Zrenjanin.

Bankruptcy proceedings against Luxol were commenced in late 2011, while bankruptcy was declared in late April 2012, when creditors filed claims worth RSD 326 million.

The list of the five largest creditors then included the Development Bank of Vojvodina (RBV), Tax Administration in Zrenjanin, Belgrade-based MultiBg, and Kragujevac-based Orion.

At that time, the majority owner of Luxol was the neighboring pharmaceutical plant Jugoremedija, which has recently filed for bankruptcy but avoided going bankrupt.