Verdict on the lawsuit of small EPCG shareholders on February 16: Were they deprived of half a million?

In the Basic Court, the multi-year hearing in the dispute arising from the lawsuit of the minority shareholders of Elektroprivreda, led by Vasilije Miličković, against the Securities Commission (KHOV), the Central Depository Agency (CDA), the Government and the Council for Privatization due to the way the shares of small of the owners of EPCG unlocked in 2009 from the Italian company A2A, and the minority shareholders lost it during the purchase and sale transaction on the stock exchange.

Judge Arsenije Gatolin announced that he will make a decision in this legal matter on February 16 and will send it to the litigants by mail.

The plaintiffs requested that the claim be accepted because, as they pointed out, based on all the evidence presented, it follows "that KHOV, contrary to the law, arranged a settlement procedure that enabled the plaintiffs to be paid an amount lower than the purchase price of the shares, and the CDA allowed such settlement , that is, she registered the transfer of shares from the plaintiffs to A2A, although she did not have confirmation that the purchase price of the shares was transferred to the accounts of the plaintiffs".

The attorneys of the defendants asked the court to reject the lawsuit as unfounded and that they acted according to the law in everything. Some of them claim, among other things, that this "lawsuit is out of date".

Milicković is sure that on February 16, there will be good news for the 7.000 former shareholders of EPCG, who were "robbed of 504.000 euros".

"Justice is long, but attainable. If the defense of the defendants was based on a blanket claim of statute of limitations, it vividly speaks of their impotence in the face of overwhelming evidence that small shareholders were harmed in the process of share buybacks. The long-awaited proof from Prva banka that only on September 30.09.2009, 28. the amount of money paid to the broker's account of the buyer of the shares clearly shows that the certificate from Prva banka, which was issued on September 2009, XNUMX, is false and a forgery in all respects," stated Miličković.

He added that "the acting judge also has the recognition of the buyer of the shares of the company A2A and KHOV that the minority shareholders had the right to freely choose the broker and bank through which they will sell their shares, as it happened in practice, because none of the plaintiffs he did not have any contact or contract”.