Restructuring process started in "Sloboda aparati"

The Privatization Agency has announced the decision about starting the restructuring process in Čačak-based company "Sloboda aparati", which operates within company "Sloboda AD".

The procedure will be conducted through changes in status and legal form, internal organization, write-off of the principal of the debt, interests and other claims, either partially or completely, in order for the debts to creditors to be repaid from the funds obtained from sale of the company's capital.

The Agency has invited all creditors to submit their claims within 15 days from the day the decision is published.

People from the Agency have explained the decision about restructuring by saying that realization of the auction privatization of the company is uncertain because the problem represents the fact that a part of the property is situated on the grounds of company "Sloboda", of which operations are crucial for maintenance of combat readiness of the Army of Serbia.

It is also necessary for company "Sloboda" to take over certain number of employees for the needs of military production, and there is also high level of obligations of company "Sloboda aparati" towards its suppliers, the Development Fund, based on taxes and contributions, as well as towards business banks.