Takovo pays €12 million to Komercijalna Banka

As ruled by the Appellation Court, Swisslion Takovo paid EUR 12 million to Komercijalna Banka on Thursday (July 14, 2011).

People at that company told Beta news agency that they would not give up the revision at the Supreme Court of Cassation, to which that company filed an appeal for the revision of the ruling of the Commercial Appellation Court, based on which Komercijalna Banka blocked the company's account.

Komercijalna Banka blocked the account of Takovo last week because of the company's debt of about EUR 10 million, while Takovo admits only part of that debt, that is, EUR 2.2 million.

Takovo is now trying to prove that the former management signed only fictional loan agreements and that no money was transferred from the bank to the company.

Draskovic earlier suggested two possibilities to Komercijalna Banka as a solution to the dispute - that the bank allows Takovo to have the debt converted to a loan until the revision of the court procedure at the Court of Cassation is completed, or to buy part of the debt of EUR 2.2 million.

Draskovic acquired Takovo for EUR 3 million in 2003.