OTP Bank and its subsidiaries in Montenegro CKB confiscated the hotel because the loan with interest was not returned .
The company ” Debt Management Project 1 Montenegro “, from Podgorica, offered ,at a price of 20.3 million yesterday to buy the hotel ” The Queen of Montenegro ” in Becici.
The hotel , in the next eight days, will be sold together with the land at a price of 155 thousand hotels and movable property worth 300 thousand euros.
This company is registered for the real estate and wholly- owned by OTP Factoring , Hungarian company engaged in debt collection of CKB (CKB ) to liberate it from poor collateral .
” Debt Management Project 1 Montenegro ” was registered in May 2011 for ” buying and selling real estate for its own account .”
[widgets_on_pages id=”Baner”]
OTP Bank and its subsidiaries in Montenegro CKB seized the hotel because the loan with the interest in the amount of 42 million euros was not returned. Ivančević recently said that ” Russian partner failed to meet its obligations,hence the bank has activated a mortgage.
The majority owner of the eponymous company , which has managed the hotel since 2009 is Russian Korston group which had 75 per cent stake and the remaining 25 per cent were owned by Budva agency “Adriatic Express” which owners are Dragan Ivančević and Branko Kažanegra. The Russians bought that share from the Austrian company ” Springer & Plecer group” , which together with Ivančević and Kažanegra in 2007,made a dilapidated ex Panorama one of the most luxurious hotels in Montenegro which has four star plus .
Ivančević recently said that the Russian partner had failed to meet its obligations ,therefore the bank has activated the mortgage, and that the eventual sale should not be an obstacle to the work of the hotel.
Similarly, last year the Swiss bank NLB Interfinans took over Otranto hotel in Ulcinj because the Russian company ” Barkley Montenegro” did not return the loan of 10.6 million , and then rent the hotel to Ulcinj company ” Argos ” .
