New attempt at enforced sale of Hotel Vucko on Jahorina – Two procedures on same legal grounds in process

The apartment hotel Vucko, one of the most famous hotels on Jahorina, is being offered for sale this Monday once again, under an enforcement procedure initiated at the Basic Court in Sokolac by Addiko Banka, aiming to collect a credit of BAM 11.27 million (around EUR 6 million).

The procedure initiated against the hotel by the former Hypo Alpe Adria, now Addiko Banka, is disputed by the owner of the hotel, the company B&B Vucko, due to whose complaints the sale has been postponed several times now.

Aside from the bank, the company Bora, to which Addiko Banka has transferred its claims from the hotel, is also running an enforcement procedure against Vucko.

This is what the representative of Vucko, Predrag Baros, finds problematic. He believes that the bank can’t request an enforcement, as it has no claims toward Vucko, considering that it previously transferred them to Bora. He adds that the Basic Court in Sokolac has rejected the bank’s request for changing the judgment creditor within the procedure.

This was upheld by the District Court in East Sarajevo and the situation now is that there are two procedures on the same legal grounds against Vucko.

The bank is trying to collect BAM 11.27 million, whereas Bora is trying to collect BAM 12.6 million.

Baros says that, in line with the court’s decision, Addiko should withdraw its request and terminate the procedure and then have Bora initiate a new procedure.

According to the latest estimate, Hotel Vucko is worth BAM 10.8 million, which Vucko’s representative also disputes, saying that the calculation is problematic.

– The court put the two separate evaluations of the same property together, whereas the value of the apartments was not estimated properly – Baros claims.

He adds that Vucko has tried to have the contract on the transferring of the claims from Addiko Banka to Bora annulled, but that the court made the final decision that the contract is legally valid.

The legal representative of Addiko Banka, Fedja Tihic, said that he doesn’t have his client’s consent for making statements.

Hotel Vucko features several units, and several apartments have been built in the past years, which have been sold and are no longer owned by B&B Vucko.

Addiko banka

Hotel Vučko

Bora

Baros Law Office

Predrag Baroš

Feđa Tihić

Basic Court in Sokolac

District Court in East Sarajevo

sale of apartment hotel Vučko

Vučko claims