The decision on the tender for the sale of the assets of the Podgorica Aluminum Plant (KAP) is illegal and without the consent of the company's largest creditors, she said.
The Central European Aluminum Company (CEAC), stating that the sale may cause an increase in the number of lawsuits before international arbitrations against the Montenegrin Government.
"The decision on the tender for the sale of KAP's assets was made in violation of the legislation of Montenegro, without the consent of KAP's largest creditors, among whom are CEAC, En+, EPCG and VTB Austria AG. The share of the aforementioned creditors accounts for about half of KAP's debt , which is more than 160 million euros," assessed CEAC.
As they stated, the unresolved issue of KAP's electricity supply indicates that the only goal that Uniprom pursues is the complete cessation of aluminum production at the factory, including processing, and the further cutting of the factory's assets into scrap metal, with the aim of selling it for an amount that is significantly exceeds 28 million euros.
"Therefore, significant damage will be caused to KAP's creditors. An additional confirmation of this intention is the fact of the ultra-fast transfer of ownership of KAP's land on favorable terms," the response reads.
They believe that it is obvious that such a scenario was originally planned and coordinated with the Government of Montenegro.
"The sale of KAP to the structures of the company Uniprom may cause an increase in the number of lawsuits before international arbitrations, which CEAC and other creditors have initiated against the Government of Montenegro," the announcement concludes.
The contract for the sale of Aluminum Plant Podgorica to Uniprom from Nikšić was signed today in Podgorica, and the buyer will pay the purchase price of 28 million euros in the next 30 days. Uniprom is negotiating with companies from the surrounding area to supply the Aluminum Plant with electricity, and it is still waiting for a final offer from Elektroprivreda Crne Gore.
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