The Commercial Court of Montenegro announced that no asset distribution has taken place in the bankruptcy proceedings of Montenegro Airlines, as several ongoing lawsuits are still determining the legitimacy of claims filed by former employees based on labor rights.
The court emphasized that resolving these cases will be a priority in the upcoming period. Once final decisions are reached, the process of distributing the bankruptcy estate and settling creditor claims can proceed.
The bankruptcy process was initiated on April 28, 2021, due to unpaid debts totaling 11,929,002.50 euros. The case is being handled through bankruptcy liquidation and has seen a change in both the presiding judge and the bankruptcy trustee during its course.
So far, part of the bankruptcy estate has been liquidated for a total of 2,118,982.22 euros. The remaining movable assets, including spare parts for Fokker and Embraer aircraft, are currently being sold. The sale of immovable property, however, is pending the resolution of legal disputes concerning ownership rights, which are being addressed through civil and administrative procedures.
The court rejected allegations from the NGO Montenegro Airlines Podgorica, formed by former employees of the airline, that the proceedings have been conducted in a non-transparent manner.
They stated that all court decisions, in accordance with the Bankruptcy Law, have been published on the court’s bulletin board and in two national newspapers. Additionally, the court has regularly responded to media inquiries and has provided public updates on the case. Parties to the proceedings have had full legal access to the case files at all times.
The court added that there has not been a single objection against the actions of the bankruptcy trustee or the court that has not been addressed.
To ensure transparency, the Commercial Court of Montenegro invited all individuals with a legal interest in the case to contact the court for accurate, complete, and timely information regarding the proceedings.
Meanwhile, former Montenegro Airlines employees gathered today in front of the Commercial Court in Podgorica to mark the fourth anniversary of the company’s bankruptcy. During the protest, they expressed dissatisfaction with the bankruptcy process, which they claim has been characterized by a lack of transparency and delays.
The employees are demanding the dismissal of Judge Ivan Kovačević and bankruptcy trustee Milan Radulović, arguing that the core goals of bankruptcy—asset liquidation and creditor compensation—have not been met.
They also recalled that over the past four years they have repeatedly reported irregularities and appealed to both domestic institutions and international organizations, but have received no concrete responses to date.
