At the repeated shareholders’ assembly of Vektra Boka held at the “Plaža” hotel, the current Board of Directors was dismissed and a new one was elected, consisting of Radovan Samardžić, Vladimir Čović, and Slobodan Đokić. Compensation for board members was also approved.
The previous session was annulled after minority shareholder Dragan Perović refused to sign the minutes. Following the session, it was reported that the sale of the “Igalo” hotel was scandalous due to irregularities highlighted by six creditors.
The compensation for board members, set at four times the minimum wage in Montenegro from the previous year, was adopted after a heated debate. Minority shareholder Danilo Matijašević argued that this decision was illegal.
Matijašević stated that his goal was to pay workers, the Tax Administration, and the Municipality of Herceg Novi from the sale of the former “Igalo” hotel. According to him, funds were transferred to the account, work tenure was linked, and an agreement was made with Mesopromet to pay 340,000 euros, but the new CEO Milan Popović refused to sign the settlement. Matijašević claimed the company suffered a 270,000-euro loss, as workers only received about 100,000 euros instead of the 300,000 initially agreed upon. Had the settlement been signed, all worker claims would have been settled.
Matijašević also detailed who received payments from the sale of the “Igalo” hotel:
- The Tax Administration: 4 million euros (with 1.5 million euros in interest waived)
- Municipality of Herceg Novi (property tax): 2 million euros (with 500,000 euros in interest waived)
- Former owners of the “Igalo” hotel, the Acović family: 4.45 million euros
- Lawyers representing the company: 150,000 euros
- Mesopromet: 610,000 euros.
Vektra Montenegro’s bankruptcy trustee, Radojica Grba, called the sale of the “Igalo” hotel scandalous. The hotel, previously owned by the Hotels and Tourism Company (HTP) Boka, was sold on February 11 at a public auction for 11.23 million euros.
Grba emphasized that they still did not know the identity of the creditors or the order and amounts in which they were paid. Despite multiple requests for information from the public executor, no details were provided. He stated that there were numerous violations during the auction process and that these irregularities should have been addressed, which they also requested, alongside six other creditors. They also sought the removal of the public executor after seeing that the hotel would be sold for less than 14 million euros.
Grba further criticized accusations that they refused to reach a settlement with Mesopromet, noting that the settlement was being pushed through without proper review. He pointed out that no settlements had been made to date and expressed concerns about whether interest could be charged during the period when the previous bankruptcy process was initiated, with the court having imposed a ban on disposing of assets.
In Grba’s opinion, the entire process was scandalous, and he stressed the need to pay all creditors who remain unsettled, implying that further sales of unencumbered assets will be required.
