Debt of Beohemija totals RSD 28,7 billion - Prepack plan of Zrenjanin-based company to be discussed October 13

In late December, the management announced Beohemija is no longer capable of paying off loans timely and insisted that solution for a number of financial issues is looked through bankruptcy in line with the so-called prepack plan

The court decided that the trial proceedings should be held October 13.

The destiny of Zrenjanin-based chemical plant is in fact in the hands of bankers. Ten domestic and foreign banks are the biggest trustees in debts claiming from Beohemija which total RSD 28,7. Company’s entire assets, buildings, machines, construction land, stocks and brands hardly exceeds RSD 1,3. It sufficiently reflects the trustees’ situation. The ones preparing the prepack plan calculated that if the company went bankrupt, they would succeed in collecting payments of only seven percent of claims which discretely suggests the direction in problem-solving.

The prepack plan offers production continuation and debt repayment through the funds generated from detergent sales. Trustees are expected to accept extension” when it comes to loan repayment until 2022 with additional support of trade chains and banks of EUR 15 m for provision of working capital. The expert opinion of the licensed trustee in bankruptcy, Andrijana Zivanovic, is that the prepack plan is feasible.