WMEP Bankruptcy Monitor

July 2018

Bankrupt companies

„LEADER POINT“ Ltd. Valjevo (Processing and preserving of meat; Registry number: 20822619)

Bankruptcy procedure against this company was

initiated at the 19th of July 2018 by the Commercial court

in Valjevo. The company was established in 2012. The main activity of

the company includes preparation and packaging of meat, production

of fresh or frozen poultry meat. According to the latest financial

statements (2017) the company owned assets of total book value of cca

EUR 1,3 million, operating income in the amount of cca EUR 770 k, net

loss in the amount of cca EUR 200 k.

„SEMP - SISTEMI“ Ltd. Jagodina (Production of machinery for mining, quarrying and

construction; Registry number: 20552735)

Bankruptcy procedure against this company was

initiated at the 19th of July 2018 by the Commercial court

in Kragujevac. The company was established in 2009. The main

activity of the company includes production of mixers for concrete and

mortar, earthmoving machine, drilling, cutting and digging machine.

According to the latest financial statements (2017), accounting value of

the assets of the company was cca EUR 457 k, operating income in the

amount of cca EUR 5 k, net loss in the amount of cca EUR 4 million.

„BIG POZITIV“ Ltd. Belgrade (Other retail sale not in stores, stalls and markets; Registry

number: 20840854)

Bankruptcy procedure against this company was

initiated at the 17th of July 2018 by the Commercial court

in Belgrade. The company was established in 2012. The main activity

of company is retail trade of products, door to the door sale and by

traveling sellers. According to the latest financial statements (2016) the

company did not have business activities, and did not have any data on

assets and liabilities in books.

„KEEWAY“ Ltd. Bačka Topola

(Sale of motorcycles, parts and accessories, maintenance and

repair of motorcycles; Registry number: 08307911)

Bankruptcy procedure against this company was initiated at the 12th of July 2018 by the Commercial court in Subotica. The main activity of company includes wholesale and retail

trade of motorcycles, as well as trade of parts and accessories for motorcycles, maintenance and repair According to the latest financial reports (2016) the company owned assets of total book value of cca EUR 3,2 million and operating income in the amount of cca EUR 20 k.

Serbia bankruptcy statistics Number of active bankruptcy: 2.078

Number of initiated bankruptcies from January 2015: 274

Number of closed bankruptcy procedures: 4.214

Average bankruptcy procedure duration : 2 years and 6 months

Commercial court with most initiated bankruptcies: Belgrade

Source: www.alsu.gov.rs

News

19.09.2018 – The Commercial Court in Kragujevac opened bankruptcy procedure of company “Zastava kamioni” due to the account blockade. The bankruptcy procedure of a factory of commercial vehicles was opened by the Ministry of Economy due to permanent inability of payment, and the Court determined that the account was blocked since 18th of September 2015. “Zastava kamioni” is 100% owned by “Zastava vozila” that are in bankruptcy procedure since 2017. A creditor hearing is scheduled for 29th of October, creditors are invited to report claims within 60 days and debtors to fulfill obligations to “Zastava kamioni”.

16.09.2018 – The Commercial Court in Pančevo adopted the proposal of the Ministry of Economy and opened bankruptcy proceedings of company “HIP Azotara” Ltd. Bankruptcy proceedings were opened due to permanent inability of payment. The bankruptcy Trustee of the company is the Agency for Licensing of Bankruptcy Trustees. Creditors are invited to report claims within 120 days. The Commercial Court scheduled the first creditor hearing for 22nd of October, and creditors’ assembly will be elected.

16.09.2018 – The company “Fiat Chrysler automobili” continue to work in Kragujevac. The new agreement on business-technical cooperation between FKA and the state of Serbia will not change essentially. There will be no layoffs, and the current number one product of Automobile Factory from Kragujevac is a “500 L hybrid drive model”. Serial production has begun, and the installation of this car with a built-in electric motor will begin soon.

16.09.2018 – The new sale of a factory “Nevena Leskovac” as a legal entity will be scheduled for November this year. The Agency for Licensing of Bankruptcy Trustees has announced the sale of part of assets for 15th of October, the subject of sale are two buildings in Belgrade. This property is sold separately because it allows the realization of the highest possible value of property and the greatest possible level of settlement of the creditors.

Source: www.ekapija.com

Contact: Disclaimer: WM Equity Partners Ltd. Belgrade Bul. Mihajla Pupina 10a 11 070 Belgrade, SERBIA Vladimir Pavlovic, CFA Director tel: +381 11 41 41 600 e-mail: vladimir.pavlovic@wmep.rs http: www.wmep.rs

This report was prepared, presented and authorized by WM Equity Partners Ltd. Belgrade, based on data provided by the Client and publicly available data, own data, independent analysis and other data considered to be reliable, but which accuracy is not guaranteed. All data included in this report represent our analysis on date marked in report and are subject to changes. WM Equity Partners, its management and employees cannot be responsible for any damage that was caused by this report. Information presented cannot be regarded as recommendations for buying or selling of the securities, properties and/or assets.

Bankrupt companies property sale

„NEVENA“ ad Leskovac (Production of detergents, soaps, cleaning and polishing;

Registry number: 07105177)

Sale of property of the debtor by a public auction is scheduled for 15th of October 2018.

The subject of the sale, among other assets, are building of business services, warehouse, auxiliary building, as well as equipment that were used for the primary activity of the company. The total value of the property offered for sale is cca EUR 240 k.

„HLEB“ ad Novi Sad

(Production of bread, fresh pastry and cakes; Registry number: 08252343)

Sale of the debtor as a legal entity by a public auction is scheduled for the 17th of October 2018. The subject of the sale is real estate on several locations in the territory of the municipality of Novi Sad, as well as movable assets, bread production lines, professional baking equipment for production, equipment, office furniture, motor vehicles, supplies of spare parts and tools, supplies of fuel and packaging that were used for the primary activity of the company. The total value of the property that will be on sale is cca EUR 3 million.

„OMIN“ ad Niš (Production of measuring, research and navigating instruments

and apparatus; Registry number: 07576102)

Sale of property of the debtor by a public auction is scheduled for the 22nd of October 2018. The subject of sale is business space on several locations, workshop, old

restaurant, warehouse, technical service, warehouse and workshop,

auxiliary facilities, as well as equipment, tools, spare parts used for the

primary activity of the company. The total value of the property offered

is cca EUR 164 k.

„NAVIP“ ad Belgrade

( Production of grape wine; Registry number: 07461305)

Sale of property of the debtor by a public auction is scheduled for the 18th of October 2018. The subject of sale is land, buildings, production building, store building, auxiliary facilities, as well as equipment and machines used for the primary activity of the company. The total value of the property offered is cca EUR 380 k.

Collateral sale

Sale of debtor as a legal entity Sale of property of debtor “AGROŽIV RATARSTVO” Ltd. Pančevo, by public auction. The subject of sale is property divided in several units. The most important assets are:

Business services building area of 457 m2

Auxiliary buildings

Auxiliary building area of 713 m2

Agricultural facility area of 125 m2

Agriculture facility area of 190 m2

Workshop area of 238 m2

Auxiliary building area of 387 m2

Hangar area of 834 m2

Trade building area of 293 m2

Auxiliary facilities

Agricultural land. The right to participate in the sale offer have all interested parties. Estimated value of the property that is on the sale is not the minimum acceptable value or otherwise binding and opting for the bidder when determining the amount of the bid. The property of the debtor can be seen after purchasing the bidding documents every working day, not later than 5 days prior to the sale. The public auction will be held on the 31st of October 2018.

Sale of immovable assets

The Bankruptcy Trustee of the debtor “Poslovni sistem Stankom” from Belgrade in bankruptcy announced the sale of immovable assets of the debtor by public auction. The subject of sale is property divided into several units. The subject of sale is property divided into three property units:

The first property unit consist of business apartments, garages, shops and apartments

The second property unit consist of real estate, three garage places

The third property unit consist of real estate, eight garage places.

The right to participate in the procedure of sale have all interested parties. Estimated value of the property that is on the sale is not the minimum acceptable value or otherwise binding and opting for the bidder when determining the amount of the bid. The property of the debtor can be seen after purchasing the bidding documents every working day, not later than 7 days prior to the sale. The public auction will be held on 26th of October 2018.