March 7 (SeeNews) - Serbia's Bankruptcy Supervision Agency is inviting bids for the purchase of the Montenegrin subsidiary of insolvent charge card company Diners Club International Belgrade.
The estimated value of Diners Club International Montenegro stands at 341,497 euro ($383,758), the Bankruptcy Supervision Agency said in a notice.
The deadline for the submission of bids is April 16.
A deposit of 68,299 euro is required to participate in the auction.
In March 2017, Croatian card company Erste Card Club (ECC) completed the acquisition of Diners Club International Belgrade from Luxembourg-based SKB Capital S.A. Shortly after the acquisition, ECC accused former head Obrad Sikimic of misappropriation.
According to Croatian media reports, the damage caused by the scheme to ECC was equal to 12 million euro. ECC applied for the insolvency of Diners Club International Belgrade in May 2017, as it considered it unreasonable to cover the loss.
The Serbian commercial court declared Diners Club International insolvent in June 2017.
($ = 0.889877 euro)