Hearing for prepack plan adoption at Aha Mura Prvi maj delayed for April 24

The hearing for adoption of the Prepack plan at (UPPR) at Aha Mura Prvi maj which should have been held on Friday, March 13, 2015 at the Trade court in Nis, was delayed for April 24.

- Hearing in Nis was attended by authorized entities of trustees, SBER and SID Bank, Dunav osiguranja, Tax administration and Customs. We asked for the delay of hearing at the Trade court in Nis because of the written consent of the Ministry of trade for prepack plan which would align commitments for Tax administration with the prepack plan. It is the basic reason for delay which was accepted by the trustees.– General and legal affairs department head at Aha Mura Prvi maj in Pirot, Ljubomir Sotirov, says.

The plan is to start production in March failed since all interested buyers asked as a guarantee a letter for support of the Ministry of trade which was sent a bit late.

-The essence and the prepack plan is sustainable and makes sense if production starts. Without production start, the prepack plan would not have the role because it implies funding of liabilities and remaining salaries from its own funds. By April 24, when the next hearing is due, we should start production. It was announced we are starting in March. There are interested buyers and cooperation with them will continue – Sotirov says.

Answering yesterday’s requests of the employees from the protest to cancel prepack plan and the plant to go bankrupt, Sotirov says that with the opening of bankruptcy, employees would be entitled to 12 minimal salaries and the right to payment of taxes and distribution for 24 months. Sotirov outlines that the Ministry of trade is negotiating with potential interested investor from Turkey which can help with its investments in Pirot-based plant recovery.