Lukavac Coke Plant without buyers, workers' salaries secured

(Patria) - A second hearing was held today at the Municipal Court in Tuzla, where offers from interested business entities for the purchase of the Lukavac Coke Plant in bankruptcy were presented.

The hearing was scheduled for 1:00 PM, but by then, no offer to purchase the Coke Plant or deposit for participation in the asset sale had been received.

The assets of the Coke Plant are valued at several hundred million KM, but the initial offer was around 150 million KM.

The bankruptcy administrator of the Coke Plant, Almir Bajrić, stated that there were several interested inquiries from numerous companies, but without any applications.

A meeting of the Creditors' Board is expected to be held in mid-May to discuss the next steps.

The announcement of a new sale tender is expected, while it is not yet known whether the price will be higher or lower than the current one.

- Today, consent was given for the first partial distribution of workers' claims, and it can be stated that the payment to the workers will be made by the end of May - said Bajrić.

He states that the amount being distributed is around two million KM, and it is related to the payment of salaries and the settlement of severance pay and other debts.

Bajrić also added that about 150 former employees of the Coke Plant have been employed so far - the vast majority of them through projects by the Government and other employers from the Tuzla Canton.