The ALTA BANK Case
The Commercial Court in Belgrade is expected today to issue a decision on opening bankruptcy proceedings against ALTA bank, after which preparations will begin for the payment of insured deposits to clients. The Deposit Insurance Agency will take over the role of bankruptcy trustee, and citizens and certain legal entities will be able to collect their funds up to 50,000 euros.
TL;DR
- The Commercial Court in Belgrade is expected to open bankruptcy proceedings for ALTA bank today.
- The Deposit Insurance Agency will act as the bankruptcy trustee.
- Depositors can claim insured funds up to 50,000 euros.
- Payouts are scheduled to begin within seven working days of the court's decision.
- The 50,000 euro limit applies to the total insured deposits per client, regardless of the number of accounts or currency.
- Payments will be made in dinars for dinar deposits and in euros for foreign currency deposits.
- ALTA bank's license was revoked by the National Bank of Serbia due to a significantly worsened financial state and potential risk to depositors.
- Similar measures have been taken against ALTA bank entities in North Macedonia and Montenegro.