Photo: Vuk Vuković on UnsplashFor a year, the public's attention has been focused on the bankruptcy administration's attempts to find buyers for the Genex Business Tower, as well as on the activities of representatives of the building's tenants, who are currently appealing to the state to use the right of first refusal at the February 6 auction.
Then the Genex Tower will be offered at an initial price of 834.68 million dinars, and it currently represents the most valuable part of the property of the famous Yugoslav company. However, that is not all that Generalexport currently owns. The list of assets available on the portal of the Agency for Licensing of Bankruptcy Trustees (ALSU) states that company also owns properties in Rijeka, Split, Zagreb, Dubrovnik, and Osijek, although it is not specified whether these are apartments or shops, reports Biznis.rs.
Generalexport, among other things, also owns land: construction plots and fields in Jošanička Banja, as well as plots in Beli Potok, a settlement that belongs to the Belgrade municipality of Voždovac.
Former workers, as well as heirs to the right to payment of compensation from the social program, indicate that the completion of the procedure in its daughter company, Internacional CG, whose most valuable assets were sold off in 2008 and 2009 during the restructuring, is even more important than the completion of the bankruptcy in Genex. Then the former hotel "Grand" on Kopaonik and the apartment complex "Konaci" were sold, as were the former Belgrade hotels "(Inter)Continental" and "Genex apartments" in New Belgrade.
ALSU documents, however, show that the property on Kopaonik is still owned by the International CG: two "class 6 pastures" that belong to "other construction land in state ownership," as well as land "under the building or next to the building," where, apparently, no conversion of ownership was carried out.
But all that can hardly be compared in terms of value with the property already sold, for which a total of around 173 million euros was obtained.
The last "turn" in the story of bankruptcies at Genex and International CG is the eventual participation of the state in the public tender for the Western City Gate.
According to Božidar Stavrić, manager of the Genex Tower Housing Community, the tenants, who are also bankruptcy creditors, are advocating for the Government of Serbia to use the right of pre-emption and turn the business tower into a building of public interest, and have submitted written notices to that effect at the offices of the Government and the Presidency of Serbia. They also submitted a proposal to the commercial court in Belgrade that the business part of the building should not be sold as a whole but in segments in order to achieve a better price.
On the other hand, the bankruptcy trustee of Genex, Budimir Mrdović, stated in his quarterly report for the period from July to the end of September that "he is in constant communication with several potential buyers of the property of the bankrupt debtor who have expressed interest in purchasing property in this period, from Switzerland, Turkey, the Russian Federation, and England."
Source: Biznis.rs
