Montenegrin Atlas Banka’s property offered for sale

The bankrupt Atlas Banka’s bankruptcy administration has offered the lender’s property for sale at an initial price of EUR10.6m, the daily Pobjeda reported . The bank’s property spans across 5,788 sqm and includes office buildings, business facilities, land and parking spaces. The bidding for the property will take place on May 30 in the lawyer’s office representing the bankruptcy trustee. Bidders have to make a EUR864,700 deposit payment to be able to take part in the tender.

We recall that the central bank took provisional management over Atlas Banka and another local lender Invest Banka in December 2018 to protect the interests of depositors and prevent further deterioration of the financial situation in those banks. Both lenders, whose market share was just over 6%, were later declared bankrupt.

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