Varteks Bankruptcy: Decision on Property Sale 20. March
The Varaždin Commercial Court for March 20. He scheduled the Assembly of Varteks creditors, which will decide on the sale of the mobrome of companies that are not needed in the event of a continuation of production, as well as the sale of real estate for which the land registry state is not disputed. The sale of the aforementioned assets is carried out at the proposal of the bankruptcy trustee Tomislav Djuricin, and in the case of the sales price, the sales price will be created as 10 percent of the procurement value for all movement whose value is fully depreciated.
For those movables whose value is not depreciated in its entirety, the sales price will be determined as an amount higher between the current book value and 10 percent of the purchase value. If the property is not sold after the first publication, sales advertising will continue with a further reduction in the sales price by 25 percent over the price on the previous ad, until the sale.
The sale of real estate will be advertised on the website of the judge network, and the bids will be collected within 15 days from the date of publication. The initial price on the first advertising will be estimated at the value of the property by court expert. If the property is not sold after the first publication, sales advertising will continue with a further reduction in the sales price by 25 percent over the price on the previous ad.
The decision to sell the Varteks assets followed last month's decision of a creditor authorizing the bankruptcy administrator to submit an offer to the Ministry of Defense (MOD) in the public procurement procedure of official and solemn uniforms, regardless of the decision vote at the end of January that production will not continue.
At the session held on February 12, the decision to offer the MOD was voted on the creditors whose sum of the claim was 9.26 million euros, against that decision were creditors with the sum of the amount of EUR 2.31 million, and the DD Varaždin Bank and the City of Varaždin were restrained with the sum of claims of 10,29 million euros.
Varteks creditors at the previously held assembly on January 30th by a majority vote decided that production would not continue, but also that the business continued in the part of the sale of goods and maintenance of cold drive.
The Varaždin Commercial Court opened Varteks on July 18 last year.
