Podgorica, (MINA-BUSINESS) – Atlas Group has filed a lawsuit with the Administrative Court requesting the annulment of the Central Bank’s decision to revoke the licence of Invest Bank Montenegro (IBM) and launch bankruptcy proceedings for this financial company, claiming that the CBCG had broken several Montenegrin laws.
The Atlas Group’s Press Centre says in a press release that the CBCG and the interim administration have not allowed the bank’s shareholders and creditors to access the documentation, despite their official requests, depriving them of the possibility to refute their documents.
“This was done on purpose in order to hide the truth about IBM from the public. For that reason, criminal charges will be brought against responsible persons from the interim administration and the CBCG,” the press release says.
According to the press release, at the time of introduction of the interim administration, the IBM’s liquid assets were at the highest level since its licensing, which shows that a decision to revoke its licence was not justified.
“The bank’s assets were not lower than its liabilities, as stated in the CBCG’s decision as a reason for revocation of the licence,” Atlas Group says.
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