Bad bank gets nod to sell over 200 flats in Ljubljana
The apartments on the outskirts of the capital belonged to the bankruptcy estate of Vegrad, with their construction and poor sales in the face of the crisis being a part of the builder's demise.
While an appeal is possible against the decision of the Ljubljana District Court, NLB, a key Vegrad creditor that has had the bad bank take over a substantial part of its bad claims, said it had been the result of a constructive agreement by all stakeholders.
Finance reported that the Bank Asset Management Company (BAMC) plans to carry out a few minor repair works before putting the flats up for sale.
The bad bank already said a while ago that the apartments, built a few years ago as part of a complex with more than 800 flats, are in fairly good condition although they have been vacant for some time now.
This will be one of two major interventions of BAMC on the real estate market, the other being the upscale Nokturno development with 215 apartments in Koper on the coast whose renovation is expected to be completed at the end of the summer.