The Commercial Court in Zagreb, in the process of determining the prerequisites for declaring bankruptcy of Radio 101, has received a letter from the lawyer representing the company. The letter emphasizes that the former owner, Thomas Alexander Thimme, no longer represents the company and that Radio 101 has no assets or funds in its accounts.
The letter followed a court order issued in mid-June, requiring Thomas Alexander Thimme, the responsible person for Radio 101, to provide a written report on the financial and economic status of the company within eight days. This report was to include information about the debtor’s assets.
Specifically, the court requested a list of real estate and movable property, their locations, and the location and ownership of third-party items on which the debtor has certain property rights.
Additionally, a written response was required from the former owner regarding whether Radio 101 Ltd. has any monetary or other claims, what other rights constitute the debtor’s assets, whether there is any money in the debtor’s accounts and with whom, and whether the debtor has any other assets.
However, in a submission by lawyer Lana Popadić Katić, it is stated that “Thomas Alexander Thimme is not authorized to represent the debtor, and therefore cannot comply with the order.” The letter also notes that the founder of Radio 101, the company Impossibile Egressus Ltd., was removed from the court register last August and that Thomas Alexander Thimme had resigned prior to that.
“It is also noted, according to available information, although he is not the person who has it, that Radio 101 Ltd. has no assets, neither movable nor immovable, nor funds in its accounts,” concludes the lawyer’s letter.
The bankruptcy proceedings for Radio 101 Ltd. were initiated in May at the request of creditor Ilko Dugandžić, who is claiming over €41,000. At that time, Thimme was first called to report on the assets of Radio 101.
Radio 101 ceased broadcasting in 2021 after 37 years.
In addition to the order to the owner, the Commercial Court in Zagreb also requested the State Intellectual Property Office (DZIV) to provide a certificate for the purposes of this bankruptcy procedure, indicating whether Radio 101 is registered as the holder of any trademark, patent, or other industrial property rights.
In 2022, the Commercial Court in Zagreb suspended the pre-bankruptcy proceedings of Radio 101 Ltd., the former concessionaire of the 101 MHz frequency, pending a final ruling by the Administrative Court on the appeal against the decision granting the concession to Top Radio Ltd.
Thomas Alexander Thimme, the owner of Radio 101, requested an extension of the deadline for opening pre-bankruptcy proceedings in mid-October 2021, after broadcasting had ceased, stating that the company’s restructuring plan was to be supplemented with a planned return of the broadcasting concession.
The documentation for initiating pre-bankruptcy proceedings included obligations of Radio 101 to creditors, the largest being – over HRK 7.3 million to Impossibile Egressus, led by Thimme, who was also listed as a creditor seeking approximately HRK 33,000.
Creditors also included Berlin-based Power Radio and Zagreb-based My Power Station, registered at the same address as Radio 101, with slightly more than HRK 1.5 million in unpaid obligations.
Radio 101 ceased broadcasting on May 31, 2021, at midnight after its concession was not renewed in May due to incomplete documentation.