Auctor AG and its subsidiary Auctor Exclusive d.o.o. have initiated a structured sales process for a development plot in Croatia. This measure is taking place within the framework of a self-administration procedure that the group of companies is currently undergoing. The plot in question, along with its planned project development, forms the core of the operational activities of both companies.
The property is over 800 square metres in size and is situated on a quiet hillside above the Kvarner Bay in Ičići. A key feature of the location is the unobstructed sea view, which lends particular attractiveness to the project. The area is currently in the development phase. A valid building permit exists for an apartment building with five units, which is expected to comprise a net living area of approximately 600 square metres.
Structured sales process with support
The divestment process is closely coordinated with the self-administration procedure. The responsible parties are already holding discussions with potential interested parties to achieve an economically viable transaction. Mr Thorsten Krüger, Chairman of the Board of Auctor AG, emphasised that the plot represents an attractive project with significant development potential in a sought-after region of Croatia. The aim is to conclude the sales process swiftly and professionally, achieving a solution commensurate with the project's potential.
Lawyer Susanne Hermle from Esser Rechtsanwälte is accompanying the procedure as general authorised representative. She confirmed that she is intensively supporting the sales process and engaging in discussions with investors. Ms Hermle highlighted that the project possesses attractive development prospects and that initial interested parties have already come forward. The timely execution of the transaction is considered an important milestone in the ongoing self-administration procedure.
Procedural oversight and creditor interests
The procedures of Auctor AG and its subsidiary are managed under self-administration. The competent district court has appointed Lawyer Florian Zistler from PLUTA Rechtsanwalts GmbH as provisional trustee. His task is to monitor the management and oversee the procedures. Mr Zistler and his team, which includes Ms Lisa Sauer, act in the interest of the creditors to safeguard their concerns during the process.
