She admitted the procedure violation, but still left the sale in effect

The Bankruptcy Council of the Commercial Court in Novi Sad presided by the judge Slobodanka Komšić rejected the filed objection to the procedure of selling of a part of ATP Vojvodina property. Besides myself as the trustee, the State Attorney’s Office on behalf of the Tax Administration and Commercial Bank filed the objection as well.

Let me remind you that I filed an objection because the Bankruptcy Trustee and the judge had confused the laws in the sale procedure and, instead of the Law on Bankruptcy Procedure according to which the ATP Vojvodina case had been conducted, had applied the Bankruptcy law adopted two years later. They needed that because there was not even one notary office which wanted to certify the contract on sale of the modern service and terrain,having in mind that the procedure had not been respected and the property had been under mortgage during the dispute. That is why the Bankruptcy Trustee got the idea to demand certifying of the sale from the Bankruptcy Judge, which is something that the law does permit, but not in this case. It is interesting that the Bankruptcy Council, when explaining the reasons for rejection, admitted the process shortcoming, so it is not clear from the document why they rejected the objection.

It is up to the Commercial Court of Appeal to make the final decision: is the law violation the basis for annulment of a decision or are the judges allowed to estimate when to apply or not apply the law, and what are the criteria for making such a decision?

This is the exampe at which we will be able to see if the principle of legal security within the Chapter 23 is respected in Serbia.

Let me remind you that this very Chapter is the one because of which the case of ATP Vojvodina is under monitoring of the European Commission and that it is among the five biggest cases on the list of 24 compromised privatizations and the only one in which the investor but not the state which suffers the damage.

Sincerely Yours,

Ilija Dević, Investor of ATP Vojvodina Company

Izgled preduzeća ATP "Vojvodina" 

pre privatizacije


Izgled preduzeća ATP "Vojvodina" 

posle privatizacije


Joomla templates by Joomlashine