Who and Why Is (Not) Buying ATP Vojvodina?

Only one individual as a natural person bought up the documentation for selling of 3 unities of ATP Vojvodina, but nobody has paid the necessary deposit, meaning that this first attempt to encash the property of ATP Vojvodina on 17 November will probably be declared unsuccessful. This is something to be expected, because both the company and the property are burdened with numerous disputes, so it is not clear why the Supervisory Board insisted on that, except in case that the terrain is being prepared for free contract. In that case, everything would be sold for peanuts, the trustees would not be paid – except maybe the principle one - Credit Agricole Bank.

Let me remind you that at the moment of the bankruptcy introduction in 2008 the estimated value of the newly-built facilities, licences and business potentials was more than 100 million Euros. Through the bankruptcy and 12 years later, everything is offerred for about 6 million Euros but there are no buyers. How has it happened that through the bankruptcy, basic function of which is to save the property and pay the trustees, the company has been devalued so drastically? A part of the amswer can be found in the charges I have filed against the Bankruptcy Trustee to BTLA (the Bankruptcy Trustee Licensing Agency). I have pointed to numerous examples of his reduction of the bankruptcy estate, as well as to the fact that he recognized the status of the secured creditor to Credit Agricole Bank over the newly-built facilities on the basis of non-existent mortgage. Besides, beyond the Reorganization plan, he directed majority of the charged damage compensation to exactly that Bank and he has been extaordinarily rewarded for that. He also announced selling of the property in accordance with the order given by the Bank, in spite of numerous disputes being in progress. The decision on bankruptcy is under suspicion, because complaint has not been planned in it; there is also something wrong with the mortgage over my property the Bank has given to itself, and there have not been decisions in accordance with the audits I filed to the Supreme Court of Cassation because of non-fulfillment of the contract and damage compensation.

In spite of all the abovementioned facts, the sale was announced.WHY?

From the moment of completion of the big investment of ATP Vojvodina – the complex of the Bus Station and Service Centre – the pressures stared with the aim to take the investment away. From the very first strikes, the process has not been economic but political one. Firstly, the City of Novi Sad did not fulfill the Contract and,under the pressure of the credit rates, the Company was driven into bankruptcy. There was the calculation that in such a way it would be much faster for the potential (they know who) buyers to reach the goal with minimal investments, and after that the City of Novi Sad would activate the Contract thus providing the conditions for the property to get a far greater value.

In such conditions, nobody except the principle trustee Credit Agricole Bank would be paid, and the blame and the burden of the debt would be put on me. They have not only taken away my own investment, but they have also done nothing to pay the trustees during the reorganization and they are now trying to make me pay all the debts. A part of the judiciary is at their service in that, and they declare payable even the incorrect documents. It is not clear even to the professional public why our courts in the parties disputes, especially when the business banks appear as the parties creditors, apply the legal opinions without any stronghold in the law or in the domestic legal theory.

The only answer is – political interest. In that way we come to the answer to the question WHO AND WHY WANTS TO BUY ATP Vojvodina PROPERTY: only the one with strong enough innfluence upon politics who can be sure that the Contract enabling functioning of the Bus Station will be activated. That is why the first sale will not be successful, probably nor the second on, and all that till the moment the price is reduced enough for free contract.

Sincerely Yours,

Investor of ATP Vojvodina Company from Novi Sad