Property of Novi Sad-based company Petar Drapsin in bankruptcy put up for sale

The property of the Novi Sad-based company Petar Drapsin in bankruptcy has been put up for sale at the price of RSD 251 million. The first public auction of immovable and movable property of this company will be held on January 29.

The bankruptcy proceedings in the factory of couplers and mechanical screws started in 2015, and the Bankruptcy Supervision Agency was appointed the bankruptcy supervisor.

The production stopped before the initiation of the bankruptcy proceedings, and the facilities were being leased until it was announced in early 2017 that the preparation of the documentation for the sale of the company's property was in progress.

As the ad says, the property is being sold in two packages. The first one (at the initial price of around RSD 201 million) contains production halls, storage space, substations, equipment, machines, stocks of finished products (screws, nails, rivets, drills, wrenches, washers, nuts), as well as unfinished products, whereas the second package contains the head office building and a restaurant (at the initial price of around RSD 50 million).

Let us remind that the privatization of this Novi Sad-based company is one of the most controversial ownership transformations. The company was sold to a three-member consortium of private businesses in late 2004, but the Supreme Court canceled the auction in 2005, and the decision was upheld by the Administrative Court in 2010.

Petar Drapšin Novi Sad a.d.

Agencija za licenciranje stečajnih upravnika Beograd

Petar Drapsin in bankruptcy

sale of property of Petar Drapsin

screws

nails

rivets

drills

wrenches

washers

nuts

couplers

mechanical screws