One of the longest bankruptcy proceedings in Serbia, the shutting down of Jugobanka, coming to a close

The Commercial Court in Belgrade has approved the Draft of the Final Partition in the Bankruptcy Proceedings in Jugobanka, one of the four “big banks” whose operation permits were revoked over 20 years ago.

According to the law, the final partition starts upon the completion of the monetization of the entire bankruptcy estate or the majority of it, and if there are no complaints to the decision that Biznis.rs has had an insight into, and which was adopted on November 15, the creditors will divide among themselves close to RSD 1.3 billion, that is, 3.69% each relative to their claims.

Among Jugobanka’s creditors, according to the court documents, are NIS and Energoprojekt – with which disputes about the amount of the claims are ongoing, but also banks, insurance companies, companies and natural persons. More than 1,800 creditors are waiting to get money from the bankruptcy estate.

Biznis.rs reminds that, in 2002, four large banks lost their operation permits: Beobanka, Beogradska banka, Investbanka and Jugobanka. The Deposit Insurance Agency is currently carrying out bankruptcy proceedings in a total of ten banks – in addition to said four, there are also JIK banka, Kosovska, MB Union, Nova Agrobanka, Privredna, Univerzal banka, as well as International Investment Bank from Belgrade.

At the beginning of this year, the bankruptcy proceedings in Agrobanka were completed, whereas in August, the bankruptcy proceedings in Razvojna banka Vojvodine were completed.

Commercial Court Belgrade

Jugobanka

Jugobanka bankruptcy proceedings

Draft of the Final Partition in the Bankruptcy Proceedings in Jugobanka