On January 9, Zeljezara AD Niksic (ZEHK), a Montenegrin steel mill, was offered for sale by its receivership administrator with an asking price of €30 million ($38.4 million).
The court-appointed administration invited offers in an advertisement in the local newspaper Pobjeda, asking potential buyers to submit bids by February 5, first making a mandatory deposit of 10 percent of the starting price. The steel works went bankrupt on April 15, 2011 as workers demanded payment of overdue wages.
This is the fourth time that company has been offered to buyers since Montenegro began asset sales almost two decades ago. In August last year, ZEHK's main creditors, including Netherlands-based MNSS BV (Montenegro Specialty Steels), secured a UK court judgment backing their efforts to recover an estimated €60 million.