The Parliamentary Commission for Oversight of Privatization has requested information from the Special State Prosecutor’s Office regarding potential abuses in the privatization and bankruptcy of Rudnici Boksita A.D. Nikšić. The Commission also expects the Commercial Court to expedite the bankruptcy process, maximize creditor repayments, and minimize costs.
Rudnik boksita was purchased in 2005 by Russian businessman Oleg Deripaska for around 10 million euros. Bankruptcy was initiated in 2013 at the request of CKB due to a 1.59 million euro debt. Creditors’ claims in bankruptcy total 138 million euros. In 2015, the company was sold to Veselin Pejović’s Uniprom Metali for 5.39 million euros.
The Commission seeks detailed information from the Special State Prosecutor’s Office on all phases of the company’s operations before and after bankruptcy, as well as any actions taken to investigate potential criminal activity. The aim is to ensure the bankruptcy process maximizes asset value and creditor repayment efficiently and with minimal costs.
Previously, Rudnik employed over 2,000 workers and produced 23.2 million tons of bauxite and 43,000 cubic meters of residue by 2005. Today, the market value of that production would exceed 624 million euros. Outstanding debts to former employees total 2.5 million euros, including 429,000 euros in contributions. Part will be settled via the Labor Fund, with the remainder covered from the sale of remaining assets.
Confirmed issues include loan contract abuses, tax evasion, and indications of money laundering. Experts noted that the bankruptcy administration likely undervalued the assets, and more could have been recovered for creditors and workers. The bankruptcy process began in 2013.
Pejović had previously purchased the assets of Kombinat Aluminijuma for 25.7 million euros but did not profit from that acquisition.
