Rebraca's shopping mall in Sombor to be auctioned due to debts – Value estimated at RSD 1.1 billion

The shopping mall in the Pariska Street in Sombor, owned by renowned ex-basketball player Zeljko Rebraca, will be auctioned on April 28. The Commercial Court of Sombor has scheduled the first public bidding for the sale of Rebraca Business Center due to large debts, at the proposal of the executive creditor, the American company True Capital International LLC, headquartered in San Francisco.

The market value of Rebraca Business Center has been estimated at RSD 1,101,141,000, and the starting price at the first public bidding will amount to 60% of the estimated value.

Aside from the shopping mall, which contains, in addition to boutiques and stores, an IDEA megamarket and a cafe-restaurant owned by Zeljko Rebraca, 2,000 square meters of land is being sold, as well as the 37-m2 building parcel in the street. Although the Commercial Court had announced the possibility of an out-of-court settlement, this didn't take place.

The debts amount to RSD 147,448,783.29. In his rare public statements regarding this, Rebraca didn't deny that a huge debt had been accumulated, but he emphasized that it was mostly a consequence of a mortgage credit taken out in the US, which was to be covered, whereas he explained the tax debt with the changes made to the project and the extension to the floor containing his cafe-restaurant and gym.

For all intents and purposes, American creditors didn't want to take this into consideration. They acquired an executive decision in court by which the facility worth RSD 1.1 billion was on its way to changing ownership due to the remaining debt of RSD 147 million.