Komercijalna Bank blocks Swisslion Takovo's account over RSD 975 million debt

The account of the confectionery company Swisslion Takovo has been blocked by Komercijalna Banka because of the debt of over RSD 975 million (about EUR 10 million), based on a decision of the Appellate Court, Rodoljub Draskovic, owner of the company, told Beta news agency Monday.

As Draskovic explained, the dispute at courts started when he took over the company in 2003 because Takovo did not admit the debt to Komercijalna Bank, which was created in early 1990's.

According to his words, the debt, based on which the company's account was blocked on Friday, amounts to RSD 975 million, plus interests.

He said that they had not admitted the debt because there were "fictional agreements only", signed by former management, and there was no transfer of money from Komercijalna Banka to the company's account. As he added, the debt admitted by Takovo amounts to about EUR 2.2 million.

He announced he would ask for a review of the court procedure, that a team of lawyers from Switzerland had already arrived in Serbia, but he also said it might all be for nothing since the account was blocked and they cannot carry out their obligations.

Draskovic said he would bring an appeal before international courts.

- The company Takovo was the most successful privatized company, we have invested in equipment, production plants, technology. All that for nothing - said Draskovic.