Account of Beohemija frozen over EUR 80 million debt

Source: Novosti Monday, 28.12.2015. 15:12
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Zeljko Zunic, the owner of Beohemija who was sentenced on Saturday (26 December 2015) to one-month detention, is one of the biggest debtors in Serbia to banks, the state and his employees. According to official data, Beohemija's account is frozen over a debt exceeding EUR 80 million, which can even reach EUR 120 million with the debts of its twenty or so affiliates.
Beohemija came in the spotlight when Univerzal Banka filed for bankruptcy, along with Goran Percevic's Interkomerc, as the two main culprits which took out RSD 2.8 billlion loans and never repaid a dinar.

In order to save what they can, business banks led by the European Bank for Reconstruction and Development, which approved a EUR 20 million loan to Beohemija, decided to rescue this company in Zrenjanin because, as they explained, it had good production. The loan granted by the EBRD was exactly what encouraged other banks such as Erste, Societe General and Komercijalna to lend additional EUR 48 million to Beohemija.
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