BEOGRADSKA BANKA and JUGOBANKA bankruptcies
The New York Superintendent of Banks commenced liquidation of both New York agencies on July 22, 2011. Further information can be obtained on their web site and at http://www.nyjugo-beoinfo.com, which was specially established for this liquidation. Please note the January 22, 2012 deadline for filing a claim.
History:
The Agency for Deposit Insurance, Rehabilitation, Bankruptcy and Liquidation of Banks of the Federal Republic of Yugoslavia (now Serbia), commonly called the Banking Rehabilitation Agency, in its capacity as liquidator of Beogradska Banka A.D. (formerly known as Udruenza Beogradska Banka D.D.M. and Beogradska Banka D.D.M.) and Jugobanka A.D. (formerly known as Jugobanka United Bank and Jugobanka D.D), filed petitions ancillary to a foreign proceeding under 11 U.S.C. §304 in the United States Bankruptcy Court, Southern District of New York on June 14, 2002.
The Beogradska Banka §304 petition is docketed as 02-12932-cb. A copy of the petition is available here.
The Jugobanka §304 petition is docketed as 02-12930-cb. A copy of the petition is available here.
A copy of the United States Bankruptcy Court's preliminary injunction concerning creditors can be found here. This order was issued March 11, 2003. The Banking Rehabilitation Agency's §304 petitions concerning Jugobanka and Beogradska Banka filed in the United States Bankruptcy Court for the Southern District of New York were dismissed on August 26, 2003. A copy of Judge Blackshear's unpublished opinion appears here.
United States District Court Judge Rakoff's March 1, 2004 opinion issuing a stay pending appellate review of this dismissal can be found here. His underlying February 17, 2004 order is also available on our web site. A copy of Judge Rakoff's June 14, 2004 final order reversing Judge Blackshear's dismissal and remanding the matter for further proceedings is available here. When the New York Superintendent of Banks requested Judge Rakoff reconsider his opinion, the request was denied. A copy of the reconsideration opinion is available here.
The New York Superintendent of Banks appealed to the Second Circuit Court of Appeals. They lost and the case is reported at In re: Deposit Insurance Agency, 482 F.3d 612 (2007). The matter was remanded to the Bankruptcy Court, which approved a settlement between the two government liquidators.
Upon the motion of the Serbian Deposit Insurance Agency (to which the New York Superintendant of Banks concurred as part of the settlement), the bankruptcy court's March 11, 2003 preliminary injunction was dissolved on April 23, 2009. A copy of this order can be found here. The §304 proceedings were dismissed the following day, April 24, 2009. A copy of the dismissal is available here.
The banks were originally placed in bankruptcy on January 3, 2002 in the:
Commercial Court of Belgrade
2 Masarikova Street
11000 Belgrade
Yugoslavia
Beogradska Banka a.d. - St-16/2002
Jugobanka a.d. - St-22/2002
Further information is available directly from that court. Lead counsel in Serbia is:
These documents are in PDF format. They can be read by Adobe Acrobat Reader (a free program) that can be obtained at the link below.
The Serbian Deposit Insurance Agency is represented in this
matter in the United States by:
Houston
Putnam Lowry, Esq.
Brown & Welsh, P.C.
530 Preston Avenue - Second Floor
P.O. Box 183
Meriden, Connecticut 06450 USA
(203) 235-1651
Fax: (203) 235-9600
This page was last updated on Tuesday, 17 April 2012 05:41 PM
Houston Putnam Lowry is responsible for the contents of this web site, unless otherwise noted.