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Bankruptcy Administration of Aluminum Plant will sue Montenegro

Kombinat aluminijuma Podgorica

Bankruptcy Administration of the Aluminum Plant in Podgorica (KAP) will be forced to file a lawsuit against Montenegro due to the collection of 8,72 million EUR.

Judges of the Court of Appeal revoked January, 23, first-degree court cases by means of which the Commercial Court rejected the request of Russian CEAC regarding the collection of 8,72 million EUR. The money they requested refers to uncharged subsidies for electricity, in accordance with the contract they reached with the Government in 2009.

“Dnevne Novine” couldn’t find out whether this proceedings will ever be initiated but considering that the decision of the court of second instance is binding for the court of first instance, we can expect that the Bankruptcy Administration of Aluminum Plant will sue the state.

Bankruptcy judge and the President of the Commercial Court, Blažo Jovanić, said in the solution from December, 19, 2017 that, judging by the decision of the court in Vienna, it cannot be concluded that Montenegro is obliged to pay 8,72 million EUR to the Aluminum Plant. However, the Court of Appeal decided that the complaint lodged against this decision of the Commercial Court was grounded.

Who will succeed in this dispute is very uncertain.

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