Photo: Risto Božović/AP PhotoThe brother of Montenegrin President Jakov Milatović, Pavle Milatović, was entitled to a bonus of 175.000 euros in the construction company "Kronos TSM 061" - which then went bankrupt
Pavle Milatović, brother of Montenegrin President Jacob, he was entitled to a bonus of 175 thousand euros in the company "Kronos TSM 061" a month before it was requested insolvency of that construction company, otherwise owned by a Turkish citizen. The media wrote about the fact that Milatović was the key man of certain companies that worked on infrastructure facilities in Serbia, but there is no information about this in the available documents. However, he has been a co-owner of a company whose activity is the operation of fitness clubs in Belgrade for years, she announced Nova.rs.
As can be seen in the report on the economic and financial position of the bankrupt debtor "Kronos TSM 061" submitted to the Commercial Court in Belgrade in January of this year, Pavle Milatović, based on the employment contract from 2022 and the decision on the payment of bonuses dated September 12 last year, demands from of the mentioned company in the name of unpaid bonuses, about 21.456.000 dinars, which is 182.000 euros. Of that, as stated, the main debt is 20.560.000 dinars, that is, close to 175.000 euros, while the rest is interest.
It is interesting that the decision to pay the bonus was made only one month before the bankruptcy of the company was requested. Namely, the Commercial Court in Belgrade initiated bankruptcy against the company "Kronos TSM" at the end of December last year due to permanent inability to pay. In that decision, it is stated that on October 12, 2023, the Society for Engineering, Construction and Trade of Goods "Ingrap-Omni" from Belgrade submitted a proposal to initiate bankruptcy proceedings.
The media previously announced that Milatović is one of the founders of the company "Kronos TSM 061", but this information is not found in the documents available on the portal of the Agency for Commercial Registers. However, that Pavle Milatović was significantly involved in the work and functioning of that company can be seen from the already mentioned report submitted to the Commercial Court. In that document, it is stated that Milatović was present when the bankruptcy administrator took over the company's business documents, and that on that occasion he confirmed that the company had only two employees, and that the construction workers were hired through "employment agencies".
Blocked company and infrastructure projects
"Kronos TSM 061" was registered in September 2019 and has always been owned by Turkish citizen Ozge Sezgin. As the main activity in the Agency for Business Registers, the service of building maintenance was first registered, and in December 2022, it was changed to the construction of bridges and tunnels.
According to what Forbes Serbia wrote in January, the company "Kronos TSM" was blocked on several occasions before going into bankruptcy and the appointment of a receiver, and from August of last year to January of this year, for a total of 133 days. At one point, the National Bank of Serbia also blocked them, due to tax debts.
Forbes states that "Kronos TSM" is one of the companies owned by Turkish citizens that participate in the construction of certain state infrastructure projects in Serbia, and one of them is the Loznica - Valjevo - Lazarevac high-speed road, i.e. the section that goes through Nepričava.
The portal also writes that since September of last year, more than 10 court proceedings have been initiated for various claims, some of which were filed by "Kronos", and some of which were sent to the address of "Kronos".
According to Forbes, one of the companies that "Kronos" sued is the Chinese state-owned giant "Shandong", the main contractor of the part of the road mentioned, and that "Kronos" was chosen as the supplier in June of last year, shortly before entering the problem with blockages. "Shandong" during the construction of one of the bridges on the aforementioned road.
And in fitness business with Turkish citizens
Pavle Milatović himself is the owner of two companies. The company "XO pharma", registered in September 2021 for non-specialized wholesale trade, with headquarters at Sterijina 8 in Palilula, is wholly owned by the brother of the Montenegrin president. But it is not his first company because, according to the Agency for Business Registers, "P&P Profectus" has been located at the same address since 2016, whose main activity is related to the operation of fitness clubs.
When the company was founded, Milatović was the sole owner, and in 2017, Ozgur Baki Sezgin, a Turkish citizen, who has the same surname as the owner of "Kronos TSM 50", joined him as a 061 percent co-owner. In 2019, another Turkish citizen, Ahmet Eroglu, appears as the third co-owner. At that moment, each of the owners has 33 percent of the company. In September last year, according to APR data, Sezgin was removed from ownership, so now Pavle Milatović owns 66 percent of "P&P Profectus".
By the way, the name Ozgur Baki Sezgin is associated with another company - "Kronos construction". It is a company that was founded in 2021, to change its name to "MMS Consultancy" the following year.
As reported by Forbes Serbia, based on official data from the registry, the company deals with construction works, but according to what could be found on their website, it would rather be said that it is an agency that offers consulting services for establishing companies in Serbia, obtaining citizenship, customs clearance, company security, apartment maintenance.
On the social networks "Kronos construction", as reported by Forbes, could be found performing work on several construction sites in Serbia, such as the bridge on the road Loznica - Valjevo - Lazarevac, and judging by the photos, they also boasted about performing ceramic works in Galerija shopping center in Belgrade on the water.
Source: Nova.rs
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