{"id":202855,"date":"2026-02-27T23:12:54","date_gmt":"2026-02-27T21:12:54","guid":{"rendered":"https:\/\/serbiantimes.info\/en\/?p=202855"},"modified":"2026-02-27T23:12:55","modified_gmt":"2026-02-27T21:12:55","slug":"due-to-accumulated-debts-american-company-seizes-pancevo-azotara-under-executors-order","status":"publish","type":"post","link":"https:\/\/serbiantimes.info\/en\/due-to-accumulated-debts-american-company-seizes-pancevo-azotara-under-executors-order\/","title":{"rendered":"DUE TO ACCUMULATED DEBTS: American company seizes Pan\u010devo Azotara under executor\u2019s order!"},"content":{"rendered":"\n<p>On February 25, a lien was registered on Pan\u010devo Azotara due to debts of its current owner, allowing the factory to potentially be sold to settle the claim, according to APR (Business Registers Agency) data, as reported by Forbes Serbia.<\/p>\n\n\n\n<p>The document published by APR on that day recorded the following change:<\/p>\n\n\n\n<p>\u201cA public executor\u2019s decision from February 20 of this year and the ruling of the Commercial Court in Novi Sad from February 12, determining the enforcement proceedings, are registered, namely: seizure of shares, registration of a pledge on the shares, appraisal, sale, and initiation of enforcement proceedings for the sale of 100 percent of the debtor\u2019s shares in the company HIP Azotara Pan\u010devo.\u201d<\/p>\n\n\n\n<p>The debtor in this case is the Novi Sad-based company Promist LLC, the sole owner of Azotara, holding 100 percent of its shares. The ruling approved the registration of a pledge on the entire shareholding, based on a request from the Register of Pledged Rights.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><mark style=\"background-color:#FFFFFF;color:#d21414\" class=\"has-inline-color\">FIND OUT MORE:<\/mark><\/h4>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-serbiantimes-info wp-block-embed-serbiantimes-info\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"SqwqvplZVb\"><a href=\"https:\/\/serbiantimes.info\/veliki-gubitak-za-srpsko-zdravstvo-jedan-od-najboljih-kardiologa-evrope-dao-otkaz-u-kc-nis-zbog-pritisaka-pa-napustio-srbiju\/\">VELIKI GUBITAK ZA SRPSKO ZDRAVSTVO: Jedan od najboljih kardiologa Evrope dao otkaz u KC Ni\u0161 zbog pritisaka, pa napustio Srbiju!<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#132;VELIKI GUBITAK ZA SRPSKO ZDRAVSTVO: Jedan od najboljih kardiologa Evrope dao otkaz u KC Ni\u0161 zbog pritisaka, pa napustio Srbiju!&#147; &#8212; Serbiantimes.info\" src=\"https:\/\/serbiantimes.info\/veliki-gubitak-za-srpsko-zdravstvo-jedan-od-najboljih-kardiologa-evrope-dao-otkaz-u-kc-nis-zbog-pritisaka-pa-napustio-srbiju\/embed\/#?secret=AHeX3ZNC5W#?secret=SqwqvplZVb\" data-secret=\"SqwqvplZVb\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\">Who are the Americans<\/h3>\n\n\n\n<p>The Register of Pledged Rights shows that the pledge on Azotara was registered by Nitron Group LLC, a company registered in Delaware, USA. Nitron is the secured creditor, while Promist is the pledged debtor.<\/p>\n\n\n\n<p>The amount of the claim leading to the enforcement order on the shares was $16.7 million, with February 12 as the date the debt became payable.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Court twist<\/h2>\n\n\n\n<p>However, the story took a turn the next day. On February 26, the same court accepted Promist\u2019s appeal and annulled the previous decision, effectively removing the Americans\u2019 pledge on Azotara, Forbes Serbia learned from reliable sources.<\/p>\n\n\n\n<p>Publicly available data from the National Bank of Serbia shows that Promist\u2019s account was blocked from February 19 to 26. The blocked amount was 1.66 billion dinars, corresponding to the debt owed to Nitron. As of now, the NBS site reports the blocked amount as 0 dinars. The court decision annulment appears to have lifted the account block.<\/p>\n\n\n\n<p>Nitron declined to comment on the situation for Forbes but confirmed that the debt still exists and that a pledge on Azotara\u2019s shares remains registered in APR. However, publicly available data indicate that the debt has increased to $23.5 million.<\/p>\n\n\n\n<p>Court records show that Nitron initiated two parallel proceedings: one for 1.67 billion dinars ($16.7 million) and another for an additional 684.5 million dinars ($6.8 million). Both proceedings were started on February 3, and the court ruled in Nitron\u2019s favor for both cases on February 12. Promist filed appeals for both decisions on February 25, and both were accepted the next day. APR only registered the first, larger claim.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Debts responsible for temporary loss of Azotara<\/h2>\n\n\n\n<p>According to available data, Azotara had a net profit of \u20ac6.3 million in 2024, up more than 230 percent compared to 2023. Promist, Azotara\u2019s owner, reported a profit of \u20ac8.7 million, more than double the previous year.<\/p>\n\n\n\n<p>However, Promist recently faced an account block, which lasted until February 25, amounting to 1.66 billion dinars, the exact sum owed to Nitron Group, a key supplier. Forbes Serbia requested comment from Danilo Toma\u0161evi\u0107, co-owner of Promist, who said he could not comment. Nitron Group confirmed only that the debt remains unpaid. The company trades in artificial fertilizers.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Legal framework<\/h2>\n\n\n\n<p>Under Serbian law, registering a pledge gives the creditor the right to satisfy claims from the sale of the pledged asset. If Promist fails to pay, Nitron would have been able to recover its debt by selling Azotara, returning any surplus to Promist. The law also requires the creditor to return any excess if the sale value exceeds the debt.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Owners of Azotara<\/h2>\n\n\n\n<p>Promist acquired Azotara in 2021 by purchasing the company in bankruptcy for \u20ac5.5 million. Azotara had been in bankruptcy for three years following proceedings initiated in 2018. After the acquisition, the company quickly returned to profitability, with 2024 profits exceeding the purchase price.<\/p>\n\n\n\n<p>Promist, founded in 2002 and trading wholesale in chemical products, is owned by two individuals: Neboj\u0161a Petri\u0107 holds 80 percent, and Danilo Toma\u0161evi\u0107 holds 20 percent.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><mark style=\"background-color:#FFFFFF;color:#d21414\" class=\"has-inline-color\">MORE TOPICS:<\/mark><\/h4>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/interview-melissa-luburich-serbian-woman-from-chicago-three-times-congresswoman-how-i-fought-for-the-serbian-cause-in-washington-with-my-homemade-greens-pie-video\/\" target=\"_blank\" rel=\"noopener\" title=\"\">INTERVIEW, MELISSA LUBURICH, SERBIAN WOMAN FROM CHICAGO \u2013 THREE TIMES CONGRESSWOMAN: \u201eHow I fought for the Serbian cause in Washington with my homemade greens pie!\u201c (VIDEO)<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/anger-grows-at-the-blockades-police-summoned-more-than-10-farmers-for-informative-talks\/\" target=\"_blank\" rel=\"noopener\" title=\"\">ANGER GROWS AT THE BLOCKADES: Police summoned more than 10 farmers for informative talks!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/horror-in-north-macedonia-serial-killer-arrested-suspected-of-murdering-as-many-as-five-women\/\" target=\"_blank\" rel=\"noopener\" title=\"\">HORROR IN NORTH MACEDONIA: Serial killer arrested, suspected of murdering as many as five women!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/fantastic-news-for-serbia-european-commission-proposed-the-abolition-of-roaming-between-the-western-balkans-and-the-eu\/\" target=\"_blank\" rel=\"noopener\" title=\"\">FANTASTIC NEWS FOR SERBIA: European Commission proposed the abolition of roaming between the Western Balkans and the EU!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/he-is-my-brother-from-today-ivica-saw-an-overturned-car-and-immediately-rushed-to-help-saved-a-person-with-a-disability-from-certain-death-video\/\" target=\"_blank\" rel=\"noopener\" title=\"\">\u201eHE IS MY BROTHER FROM TODAY\u201c: Ivica saw an overturned car and immediately rushed to help, saved a person with a disability from certain death! (VIDEO)<\/a><\/strong><\/p>\n\n\n\n<p><strong>Source<\/strong>: <a href=\"https:\/\/forbes.n1info.rs\/biznis\/otkrivamo-americka-kompanija-zaplenila-pancevacku-azotaru-po-nalogu-izvrsitelja-da-li-je-i-koliko-vlasnik-duzan\/\" target=\"_blank\" rel=\"noopener\" title=\"\">Forbes<\/a>; <strong>Foto<\/strong>: Azotara Pan\u010devo<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On February 25, a lien was registered on Pan\u010devo Azotara due to debts of its current owner, allowing the factory to potentially be sold to settle the claim, according to APR (Business Registers Agency) data, as reported by Forbes Serbia. The document published by APR on that day recorded the following change: \u201cA public executor\u2019s [&hellip;]<\/p>\n","protected":false},"author":2169,"featured_media":202856,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"footnotes":""},"categories":[4],"tags":[71,11535,7323,1525,4316,23,113],"class_list":["post-202855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-breaking","tag-amerika","tag-azotara","tag-dugovi","tag-novac","tag-pancevo-2","tag-sad","tag-srbija","entry"],"aioseo_notices":[],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Serbiantimes.info EN","distributor_original_site_url":"https:\/\/serbiantimes.info\/en","push-errors":false,"_links":{"self":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/202855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/users\/2169"}],"replies":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/comments?post=202855"}],"version-history":[{"count":2,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/202855\/revisions"}],"predecessor-version":[{"id":202884,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/202855\/revisions\/202884"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media\/202856"}],"wp:attachment":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media?parent=202855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/categories?post=202855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/tags?post=202855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}