Croatia and Croatia Osiguranje seek €17M from Nama building sale

The Zagreb Commercial Court has scheduled a hearing for September 22 to distribute the proceeds from the sale of the Nama building located in Ilica. The sale was finalized in February when the buyer, the salt company Izbor šesti, paid a total of 17.25 million euros.

Secured creditors, including Croatia Osiguranje (CO) and the Republic of Croatia, are seeking at least 17 million euros. Croatia Osiguranje is claiming a total of 6.2 million euros, consisting of 1.41 million euros in principal and 4.79 million euros in default interest. While the exact amount for the state has not been officially confirmed, the Republic of Croatia holds a mortgage of 80 million kuna, suggesting a claim of approximately 10.6 million euros.

Bankruptcy administrator Damir Mikić stated that the hearing will address the calculated claims and the order of repayment. It is expected that the funds from the Ilica building sale will be sufficient to satisfy the claims of the state and Croatia Osiguranje, though full settlement of all creditors will likely require the subsequent sale of the department store at Kvaternikov trg.