CEAC objects to the decision to sell KAP assets to Uniprom from Nikšić

The law office representing the Russians announces the action in 10 days
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Oleg Deripaska, Photo: Welt.de
Oleg Deripaska, Photo: Welt.de
Disclaimer: The translations are mostly done through AI translator and might not be 100% accurate.
Ažurirano: 02.03.2014. 07:51h

The CEAC company of the Russian oligarch Oleg Deripaska is not resting on the matter of the aluminum plant in Podgorica.

The company of a rich Russian, which, together with the Russian VTB bank and the En plus group, claims about 120 million euros from KAP in bankruptcy, is preparing another objection to the bankruptcy judge Dragan Rakočević in the next ten days.

Previously, CEAC requested the cancellation of the second tender for the sale of KAP's assets with one complaint, and several times they published their opinions in the foreign media that Montenegro should be slowed down on the path of integration into the European Union, due to non-compliance with the law.

This was unofficially confirmed to "Vijesta" yesterday by a source close to the Belgrade law office that represents the interests of Deripska's companies in the bankruptcy proceedings for KAP.

Let's remind you that CEAC previously requested the cancellation of the second tender for the sale of KAP's assets with one objection, and several times they published their opinions in the foreign media that Montenegro should be slowed down on the path of integration into the European Union, due to non-compliance with the law.

"It is possible that another lawsuit will be filed," said the same source.

On Friday evening, the bankruptcy administrator made a decision to sell KAP, which was preceded by a meeting of the board of creditors where two out of three members spoke negatively about Uniprom's offer. They were representatives of CEAC and Elektroprivreda Montenegro.

CEAC was represented by lawyer Marko Milanović, and EPCG financial director Flavio Bjanko and lawyer A2A.

The decision to sell the property was only supported by the representative of the state, that is, the Ministry of Finance, Mirjana Milić.

In the next nine days, the manager has a deadline to write the decision he made, and then deliver it to the creditors and the bankruptcy judge. The sale decision will be final if the bankruptcy judge rejects the objections

In the next nine days, the manager has a deadline to write the decision he made, and then deliver it to the creditors and the bankruptcy judge. The sale decision will be final if the bankruptcy judge rejects the objections.

Whether the decision on the sale of KAP to Uniprom will be before the Parliament of Montenegro, in accordance with the current Law on the Protection of State Interests in the Mining and Metallurgical Sector, depends on the decision of the Constitutional Court.

If the Constitutional Court annuls this Law, which was adopted by the opposition with the support of the SDP, the deputies will not even consider the sale of KAP's assets.

Otherwise, the deputies will have the final say on the sale of assets and the future of the Combine.

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