The public executor organized a hearing for the sale of the property at the request of the Hypo Alpe Adria Development after Adriatic investments did not return the loan they took a decade ago. The bank mortgage was registered on the plot for a loan of five million euro. This complex was once owned by the Adriatic investment company, which is linked with Olivera Ilinčić, former adviser to Svetozar Marovic. The verbal public sale was organized on Monday, and the initial price that the public executor offered was €1.2 million.
The hotel company from Petrovac offered a bid of 1.18 million, which was accepted. The Executive Director of Villa Oliva Petar Rakcevic confirmed that they bought land in Lucice in order to spread the tourist offer of the company.
"By the Spatial Plan, the land plot is designated for the construction of tourist complexes. Bearing in mind that more detailed planning documentation for this area has not been made, we estimated together with our foreign partners, with whom we cooperate at Vila Oliva Hotel, that we should wait for this documentation to be created," said Rakcevic.
Villa Oliva is a hotel that operated under HTP Budva Riviera, bought on a tender in 2006 by HTP Vile Oliva doo, owned by Rakčević's firm Montemlin Šajo from Danilovgrad. The Debtor company, Adriatic investment in the bidding for the land in Lučice was represented by Belgrade's lawyer office Ilinčić. The sale was attended only by a representative of the Municipality, but there were no representatives of the state or the Tax Administration, although the firm owes 287 thousand euro for tax purposes.
In March, the state blocked Adriatic investments for a tax debt that reached 287.496 thousand euro. Adriatic Investments, as stated in the Central Register of Business Entities, was founded by a company from Seychelles, Standard Consulting corporation, and it was investigated by the Special Prosecutor's Office as part of an investigation against a criminal group from Budva. Two years ago, the Supreme Court issued a provisional measure at the request of the Prosecutor's Office, which blocked the assets of four companies that were linked with Ilinčić and Marovic. It was then blocked, in addition to the property of Adriatic Investment, and neighboring parcel in the Lučice company Property investment, as well as Budva's Good location property firm, and Fifth Avenue, which owns the land on Bečići beach. The Supreme Court annulled a provisional measure a month ago, because the Prosecution did not initiate an investigation against Ilinčić. At that time, all four companies, of about 50,000 square meters, were unblocked, which enabled the bank to start charging by selling of land in Lučice. Except for the state, Adriatic investments is due for tax to the Municipality of Budva as well, which in early June registered a new mortgage for the amount of 29 thousand euro. The representative of the Municipality did not object to the sale.
Text by Vuk Lajovic and BIljana Matijasevic, on June 13th 2018, read more at Vijesti
