Catering company "Sloboda" from Pančevo to go bankrupt

(Hotel Tamiš)

- The Republic Administration of Public Incomes, which is represented by the government advocacy, has decided to declare bankruptcy in Pančevo-based catering company "Sloboda" in order to make the repayment of large debts to creditors possible - the President of the Bankruptcy Council, judge Nenad Umčević, said after the session for determination of the reason for bankruptcy.

Umčević points out that the total debt of "Sloboda", which was made during the unsuccessful privatization, will be determined in the bankruptcy proceedings. It depends on both the amount of debts and the interests of creditors if this, once respectable catering company will stay in the business or go bankrupt.

According to the words of Ljuboja Bojović, a representative of workers of "Sloboda", if the company goes bankrupt, over 130 employees will stay without jobs.

He is of the opinion that the debt can be repaid through sale of certain outlets that are mainly situated in the city center, and that "Sloboda" can keep hotel "Tamiš" since old hotel "Sloboda", which is situated in the very center of the city, has recently been sold to AIK Bank for 150m RSD.

Former buyer of that company, Živko Uzelac, mortgaged that facility after he took the loan for refurbishment of other catering facilities. Two years ago, "Sloboda" was sold for 3.2m EUR. However, the owner took the loan of over 2.5m EUR by mortgaging its facilities, and that is why he is now being prosecuted in the Regional Court in Pančevo.