Montenegro's commercial court to open insolvency procedure at Vektra Montenegro.

By bne IntelliNews February 22, 2012
Montenegro's commercial court has ruled opening insolvency proceeding at diversified corporation Vektra Montenegro, Vijesti daily reported. The launch of the insolvency procedure is at the request of OTP Bank and its Montenegrin unit Crnogorska Komercijalna Banka due to an overdue debt of EUR 20.9mn, the daily notes. We remind that according to earlier reports from December 2011, OTP Factoring asked the Montenegrin commercial court to launch insolvency procedures at several companies owned by diversified corporation Vektra Montenegro and at the corporation itself. Podgorica-based Vektra is active in tourism, timber production, logistics services, civil aviation and investment. It is owned by Montenegrin businessman Dragan Brkovic.

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