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The sale of the Split hotel Bellevue has been announced , the property of Laurus, which has been in bankruptcy since 2001
For the first time, the sale of the Bellevue hotel in Split, which has the status of a cultural property, was announced, and the property is owned by the bankrupt “Laurus dd in bankruptcy”, whose proceedings are being conducted at the Split Commercial Court. The initial price in the first round of bidding is 75% of the estimated value, i.e. it was set at EUR 7.167 million. The hotel is currently not in operation.
There is interest from investors, and I personally believe that the property will be sold in the first round, says bankruptcy administrator Maroje Stjepović, who was authorized by the assembly of creditors to sell the property and the associated chattels are monetized by applying the institution of the sale of the debtor’s property as a whole.
Purchased debts
The company Tu doma, which was also active last year in the purchase of claims from other bankruptcy creditors of Laurus, is leading by the number of votes at the creditors’ assembly. Its founders and owners are connected in multiple ways to the large trade chain of building materials Građa from Solin, whose business revenues were reported to be around 57 million euros, so there is already speculation on the market about whether the business will expand to tourism and the hotel industry, possibly as an interested investor for the purchase. Bellevue.
Namely, Tu doma was founded at the end of 2021 with a predominant hotel activity, and Matko Mijić, co-founder and member of its board, is also a member of the board of Građe. Josip Mijić, as a co-founder of Tu doma, is also the president of the NO Građe, but also with experience in the hotel business through his own company, which is a micro-entrepreneur in the hotel industry with revenues of almost 266,000 euros.
) Anyway, bringing the hotel to the market where the property is expected to “flame” comes as a point in one of the longest-running bankruptcy proceedings in Croatia. The initial bankruptcy of Laurus dates back to 2001, and today it is being heard in the Split court in a new case. after the hotel became the property of this bankrupt debtor in the civil proceedings by the final judgment of the VTS from September 2021. . The business in 2021 generated total revenues of slightly more than half a million euros, and the result was positive, with around 20 employees working in the hotel. According to the manager, the hotel is fully functional, at the level of 3-star categorization.
Last property “Currently, the procedure for the second subsequent division of the bankruptcy estate is underway and the property in question represents the last property of this bankruptcy debtor. After cashing in and dividing the purchase price, the procedure will be concluded,” says Stjepović. He adds that the cashing will satisfy the remaining creditors of higher payment orders, and to a large extent creditors of lower payment orders. Assembly of creditors, as off-book property– 1/1, and Stjepović says that there are no obstacles to investment. a smaller number of square meters owned by the Republic of Croatia. The total value of the debtor’s assets as a whole amounts to EUR 9.55 million, of which EUR 9.29 million refers to real estate, and the remaining EUR 265,445 to movables and equipment.
The assets will be monetized by collection written offers, and the most favorable written offer will be the one in which the bidder offered the highest price. The offer, as registered mail, must be delivered to the court no later than April 18, 2023.
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