Agreement on sale of FAS to Swiss Batagon signed

Batagon International AG has signed the agreement on the purchase of the property of Fabrika Akumulatora Sombor (FAS) at the price of EUR 7.35 million, SOinfo reports.

Let us remind that, in early December, the board of creditors accepted the offer made by the Swiss company and authorized the bankruptcy trustee to finalize the procedure of the sale of FAS.

– I am very pleased that the agreement has been signed. I will be even more pleased when the factory becomes operational, as there's a long road ahead, considering the general state of the property. So far, there have not been any problems and I assume that Batagon will adhere to all the terms of the agreement – Predrag Ljubovic, the bankruptcy trustee, says.

Ljubovic notes that the deadline for the payment of the offered price is 15 days from the signing of the agreement. The bankruptcy trustee said that the handing over of the property, along with the inventory, would be carried out upon payment.

He added that the obligations were big and that the costs of the bankruptcy proceedings were huge and that he didn't believe the creditors would be repaid a considerable amount.

As he said, secured creditors, in this case the bankruptcy creditors as well – IFC, Mediolanum Invest, Komercijalna Banka and Halkbank – will be in advantage.

A part of the money is sure to be redirected towards the Solidarity Fund, which has paid a part of the late salaries from the period of the former owner. Whether the remaining amount is to be paid as well is to be seen in spring, when the post-bankruptcy calculations have been performed, SOinfo reports.

Black Horse- FAS doo Sremska Mitrovica

NLB Komercijalna banka AD Beograd

Halkbank AD Beograd

IFC

Mediolanum invest a.d. Beograd

Batagon International AG

Fabrika Akumulatora Sombor

FAS Sombor

Predrag Ljubovic

FAS Sombor bankruptcy proceedings

IFC

Mediolanum Invest

Komercijalna Banka

Halkbank

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car batteries

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