Serb from America buys an entire ethno village in Kostunici for 45 million dinars

Photo: Shutterstock

Milivoje Djordjevic, a businessman from Phoenix, Arizona, originally from Ivanjica, western Serbia, has bought the tourist settlement "Andjelija Misic" on Mt. Suvobor, in the village of Kostunici, which went bankrupt more than ten years ago, for 45 million dinars.

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The company, as a legal entity, was sold through direct negotiation with public collection of bids and their improvement during the procedure, and the approval for the sale was given today by the Board of Creditors in Belgrade, in which the company Jugoimport SDPR has a majority share.

The consent was necessary since the bankruptcy trustee, Gordana Hadzic from Gornji Milanovac recently announced during the sale in the Commercial Court in Cacak, the offered amount was less than 50 percent of the estimated value.

Photo: RINA

The authorized agency Olimpija" from Uzice estimated that the liquidation value of "Andjelija Misic" was 179.3 million dinars or 1.5 million euros. The most valuable property is the Milica and Panajota Hotel under construction (102 million dinars), followed by a sack factory (17.8), Villa Suvoborka (15.4), Ethno House (14.5) and restaurant Ravna Gora (5 million), while the value of the land in the possession of the bankruptcy debtor is estimated at 11.9 million dinars.

Djordjevic owns a chain of four hotels, one of which is Park in Ivanjica and a large number of apartments, but if his offer is accepted, he will have to invest many times more in order for the large resort to be ready to receive visitors.

This tourist resort was founded in 1999 through a contract between our Jugoimport-Atera and the company Hightech Defense Epic from Athens.

Djordjevic today also bought the settlement Prilicki Kiseljak near Ivanjica, that had also gone bankrupt, at a price of 4.1 million dinars.

(Telegraf Biznis/RINA)