The Port of Bar seized military equipment from a Lebanese company that did not pay a storage fee. The estimated value of this military equipment is 597 thousand euros. This can be seen in the audit report of the company "Reviko" on the operations of Luka Bar in the last year, which was published yesterday.
According to "Vijesti" information, these are several ship's cannons that have been in the warehouse of Port Bar for more than a decade and for which their owner, a company from Lebanon, did not pay rent during that period.
The auditor states that the value of the confiscated military equipment in the financial books is included in the inventory item as "goods in processing, finishing and manipulation" with a value of 597.611 euros.
"Goods in processing, finishing and manipulation refer to stocks of military equipment. The group (Luka Bar) confiscated military equipment from a company from Lebanon for non-payment of storage fees for a period longer than five years. The basis for taking ownership is the provision of the Port Tariff - General Business Conditions, according to which the term of storage of stored cargo whose owner is unknown is three months, after which the parent company can 'freely dispose of it'", stated the auditor's explanation.
According to unofficial information from "Vijesti", the Port of Bar will try to sell these military ship guns in cooperation with the Ministry of Defense.
According to the report for last year, the Port of Bar achieved a net profit in the amount of 925.101 euros, which is a significantly better result compared to the previous year. At that time, the company lost EUR 20,4 million due to revaluation of assets.
A few days ago, the Assembly of Shareholders adopted last year's business reports, and yesterday the Montenegro Stock Exchange published the consolidated report of Luka Bar, which includes former subsidiaries owned by it, which have since been closed down or sold.
Last year, Luka Bar made a profit of only about 118 euros from its core business, and the larger celebration result was achieved mostly thanks to the sale of the hotel "Sidro" to the company "Goranović" from Nikšić for about 1,78 million euros. In the note of the audit report, it is stated that the bar company made a profit in the amount of 536.252 euros from this sale of the hotel, which operated as part of a separate separate company.
The second major item in last year's other income of the Port of Bar, on the basis of which, in the end, a higher than expected net profit was achieved, related to the collected claim from Kotor's "Jugooceanija" in the amount of 324.446 euros.
The auditor does not mention the dispute with Franović
The auditor's report does not mention the dispute with the former director of the port, Zaria Franović, nor the possible compensation for this dispute, which Franović won in the Basic and Higher Courts. The board of directors dismissed Franović in October 2018 due to "disrespect and non-implementation of the decisions of the board of directors", and then appointed him as an adviser to the new director, Vladan Vučelić. In his appeal, Franović claimed that he was dismissed without a legal explanation.
The Basic Court in Bar ruled at the beginning of this year that Franović was illegally dismissed, which was confirmed by the Higher Court in April. It is not known whether Luka Bar later appealed to the Supreme Court or whether they reached an agreement with Franović on compensation.
The auditor's report for 2019 states that the company has several disputes.
"The group (Luka Bar) has identified reserves to cover possible losses in the amount of 19.804 euros, which mostly refer to compensation for shift work," the auditor stated, which means that there were no reserves for the possible loss of the dispute with Franović.
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