Deadline for State to Declare Its Intentions Regarding Purchase of Genex Tower Expires – Agreement Possibly to Be Signed as Soon as March 20

As of Monday, March 13, the state did not declare its intentions regarding the right of first refusal when it comes to the purchase of the Genex Tower, Biznis.rs reports. According to their findings, the signing of the sales and purchase agreement with the company Eureka Bar could be organized on Monday, March 20.

However, there’s still time for potential registered mail featuring the state’s final decision to arrive at the address of the Bankruptcy Supervision Agency, but there’s also the possibility of the Commission for Protection of Competition “interfering” with the sales and purchase procedure.

The deadline for stating the intention regarding the use of the right of first refusal of the purchase of the Genex Tower, part of the property of the company Generalexport DP – in bankruptcy, expires 30 days from the obtaining of the notice that the public bidding has been carried out.

– The legal deadline of 30 days expires on March 13, 2023, but we note that there’s a possibility of sending the statement by registered mail, so the deadlines have to be honored in line with that – the Bankruptcy Supervision Agency emphasized.

That means that another deadline should be kept in mind, the one that can be found on the portal of the Post of Serbia and in the Law on Postal Services.

The Post of Serbia points out that it is obliged to deliver all the received mail within the internal postal traffic as soon as possible, and within five work days at the most, not counting the day of the reception. If, then, a state organ did send a statement on the Genex Tower on March 13 precisely, that mail will be delivered by Monday, March 20, at the latest.

The use of the right of first refusal is the deciding factor when it comes to further developments – either the state will accept the price reached at the public bidding on February 6 and pay RSD 2.4 billion for the Genex Tower, or Eureka Bar from Belgrade, which reached that price at the auction, will be invited to sign the sales and purchase agreement.

– In case the Republic of Serbia, as the carrier of the right of first refusal, in line with the Law on Cultural Heritage, does not declare its intentions within said deadline, the sales and purchase agreement is signed within three work days. The declared purchaser is obliged to pay the remaining amount of the sales and purchase price within 15 days of the signing of the sales and purchase agreements – the Bankruptcy Supervision Agency said regarding the sales procedure for the Genex Tower, reports Biznis.rs.

Eureka bar d.o.o. Beograd

Agencija za licenciranje stečajnih upravnika Beograd

Komisija za zaštitu konkurencije Srbije

Generalexport Beograd

Genex Tower

Eureka Bar

Bankruptcy Supervision Agency

ALSU

Commission for Protection of Competition

Generalexport DP

Law on Cultural Heritage

right of first refusal

public bidding