Director of AVK by complaints against its employees, but argues that the staff understands

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Director of AVK by complaints against its employees, but argues that the staff understands
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Andrej Marine liquidator Merfin company's creditors recalls the advance its own funds to initiate challenging actions against shareholders, banks and other legal entities, which would be inconsistent with creditors Merfin.
"In the case of Merfin it in terms of established bankruptcy estate to completely empty the bankruptcy, which would have been necessary to complete without delay," notes Andrej Marine liquidator Merfin, in an extraordinary report. Creditors ask to be heard within 15 days, or are willing to misplace he own resources to initiate actions.
Only the bankruptcy estate Merfin - so the company set up by the team around the former first Merkurjevca Bine Kordež commitment he of Mercury he - Mercury represents 115,646 he shares in receivership. But even these shares have preferential creditors intends to sell, citing Marine. Until now, it was in the enforcement proceedings he have already disposed of most of the total 885,952 shares of Mercury (67.6 percent of the total) as they had Merfin end of 2009.
Marinc report describes how, we continued he to finance Merfin and its shareholders, he which are in the process of acquisition of Mercury project themselves indebted or invested their own funds. "In the hands had all the leverage to do so. Financial statements can be was organized entirely by your own, but had also virtually unlimited source of funds for this (Mercury)," the Marinc and points out that they were mainly leading members he of Mercury. The process of repayment of financial obligations of members was carried out in two ways, namely: - the payment of the total distributable he profit Merfin in the amount of 12.4 million - the sale and repayment of shares to the shareholders of approximately EUR 6 million.
In this Marinc confirms: he "Funds for payment have come through the credit of Mercury." It should also be distributed profits result of displaying false financial situation Merfin; for example, shares of Mercury he in 2009 were not impaired share was still valued at 405 euros, while single Mercury in its annual report evaluated at 104.01 euros. "Why all served concealing facts I do not know, but is actually displaying such results allow the distribution of profits and thereby he solve the financial he problems of the shareholders," stated Marine.
Another he way of solving financial obligations is carried he out through the sale of equity Merfin. The buyer was for all the shares of the company HTC TWO, which was until the beginning of 2010, owned by Mercury he and later to the declaration of bankruptcy owned Factor. The shares were sold for the price of 8 - times their nominal value indicates Marinc. These proceeds for the sale of the shares were paid in mid-2010 through the offset between Merfin and HTC TWO source for the repayment of amounts was like in the case of distributions of profits credit of Mercury, writes Marinc.
Already he a precursor of Marines, former he trustee in bankruptcy is filed with the court 127 challenging actions, a total amount of 34 million euros. After Marincu was part of the challenging actions, specifically those related to the purchase of shares by HTC TWO filed incorrectly. Former members Merfin (ie, selling the shares) have never been Merfin creditors, but creditors he HTC DVA and contest these actions must enforce another bankrupt - it is the trustee HTC TWO.
Marinc will therefore any action under this title as soon as possible withdrawn. I would like to - because according to him there are grounds to challenge - continued all proceedings relating to the distribution of profit to shareholders and proceedings against banks and corporate clients. "Challenging actions would lead to the shareholders, banks and other legal entities in the amount of 21.2 million euros," the Marine.
But they would have incurred total costs (litigation costs plus taxes) of around 900 thousand - of which would be around 500 thousand had to give Merfin as the applicant - but which has Marinc. "These costs would be borne by the resulting litigation defendants, the settlement, which seem to me more likely it would be part of the cost borne by the applicant," states Marinc and adds: "Resources for the management of all of these procedures in the bankruptcy estate is not so creditors urge to me within 15 days after receipt of the report, notify in writing or are willing to misplace resources to manage challenging he actions, as I suggested. " If creditors are not expenses will not be paid, remains another possibility: the completion of bankruptcy without a distribution to creditors, he adds.
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