Restructuring

The Law on Privatization stipulates restructuring as an in-depth and detailed procedure of preparation for privatization, deployed in cases of companies that cannot be sold without one. Specifically, large socially-owned companies, organized as complex conglomerates, were often created on the basis of participatory economics rather than market principles. It must also be mentioned that the largest companies – industrial giants were created for the market of the former Yugoslavia, a factor further aggravating their sale. During this phase, which precedes the actual privatization, we represent and protect the interests of creditors in reporting and realization of claims they have against the subjects of restructuring.
In these proceedings the Office represents the creditors, in whose name and on whose behalf it conducts negotiations with the Privatization Agency in order to collect payment on claims in the largest percent possible and under terms acceptable to the clients. The proceedings in question require extensive legal knowledge as well as negotiating skills and experience to provide maximum protection of the clients’ interests.

The activities of the Office in the previous business year :

Collection of payment of «Fiat» from the Zastava Group;
Realization of rights of founder and claims of «Iveco» in «Zastava kamioni»
Realization of rights of Banca Antoniana in privatization procedure of Genex group.

Recent activities in this field of the Office were as follows:

Privatization of two copper, lead and zinc mines, Rudnik, linked with the privatization through bankruptcy of mine «Veliki Majdan» it was the first and only privatizations of mines in Serbia. As a result of our experience in the field, we expanded our services to other countries, hence partaking of privatization of a copper, lead and zinc mine in Bosnia-Herzegovina;
Privatization of business association INEX LORIS, a company internationally renowned for import and export of rifles and explosives, and exclusive distributor of rifles made by the Russian manufacturer IZINJSKI;

Privatization of the largest textile factory in Serbia in favour of an Austrian client with a wide experience in textile industry;

Privatization of IMK Beograd a.d., a company manufacturing metal constructions, with operations concentrated predominantly on the territory of Russia, Ukraine, and the former Soviet republics in Central Asia;
Privatization of company UTVA PROING, dealing in manufacture of processing equipment and engineering;
Participation in privatization of the Prag hotel in Belgrade;
Participation in privatization of one of the largest chemical factories Prahovo;
Participation in privatization of’ Mitrosrem;
Participation in privatization of pharmaceutical company Medipharm;
Participation in privatization of UTVA Air-Industry;
Participation in privatization of the only automobile and truck factories, Zastava automobili and Zastava kamioni. On behalf of the client – company FIAT, our office reprogrammed the debt and thus enabled preparation for privatization of automobile industry.

 
e-mail: privatization@kosiclaw.co.rs