Osmanagić submits bankruptcy proposal for Neretva

The director of the state-owned company Neretva DD from Sarajevo Senad Osmanagić has submitted a proposal to the Cantonal Court in Sarajevo to initiate bankruptcy proceedings for this company.

In an interview with the BH news agency Patria, Osmanagić stated that this is the best solution for the once profitable company Neretva, which has been in a difficult situation for several years. He hopes that the bankruptcy administrator will succeed in preserving the company's assets worth millions, as well as jobs.

- The Cantonal Court will appoint a bankruptcy administrator, who will head the company instead of me. He will try to find the best solution for Neretva. I can say that bankruptcy proceedings are, in fact, a medicine that will try to heal Neretva, save its valuable assets, and preserve jobs – Osmanagić told Patria. He claims that he repeatedly asked the Minister of Economy of Sarajevo Canton Emir Hrenovica to get involved in resolving the problems in this company, but the minister's help, he claims, was absent every time.

In October last year, the minister made it clear to Neretva that he had given up on them and that in any case he was counting on the "funeral" of Neretva. Considering, Hrenovica told them, that the company will be left without the majority of its assets (the Cantonal Court sold part of Neretva's assets to settle part of the workers' claims), he has no basis for harmonizing Neretva's status with the Law on Business Companies, which is one of the main obstacles on the path to the company's recovery.

Part of a facsimile from October 2014, in which Hrenovica informs the Management of Neretva that they should not count on his help

Neretva is the oldest and only state-owned BH company for the production of orthopedic aids. It was founded after World War II, writes NAP.