The government deceived me in 2007 when I bought HTP "Boka", because data on losses, labor disputes, debts and restitution were hidden. If I am not allowed to invest, I will file a lawsuit against the state for compensation of more than 50 million euros, businessman Dragan Brković, former owner of "Vektra Montenegro", announced yesterday at the session of the Privatization Control Commission.
When asked by several members of the Commission, Brković did not answer who exactly cheated him, but said "the one to whom I gave money, the state cheated me". Since January of this year, the owner of "Vektra Montenegro" is NLB "Interfinanz" from Zurich, which, through the executor, seized the company due to an unpaid loan. The company is also in pre-bankruptcy proceedings.
Brković and the executive director of "Vektra Boka" Milić Popović said that there was no data in the "data room" during the tender procedure, which they subsequently discovered, namely a hidden loss of 26 million euros, labor disputes worth 3,5 million euros, 27 million euros non-compliant capital, restitution problems over property worth 15 million euros and a tax debt of 557 thousand euros.
"It is the biggest failure in my 48-year business career. And why? Because I trusted the state and the institutions of the system," said Brković, still not specifying which of the participants in this process deceived him.
In 2007, "Vektri Montenegro" sold 59 percent of state shares in HTP "Boka" for 22,2 million euros, with the announcement of an investment of at least 50 million. Brković said yesterday that she took out a loan of 27 million from NLB bank "Vektra Montenegro" for the purchase of those shares.
The President of the Privatization Committee of the Parliament, Maksim Vučinić, said that they were approached by a group of former employees who could not pay their claims even after 14 years of privatization, that none of the announced investments had happened, that the company was in bankruptcy through reorganization, that property is sold below the price, and despite the non-fulfillment of obligations, the previous government did not terminate the contract.
The representative of the former employees, Đorđe Rajak, said that Brković did not fulfill most of his obligations, as well as that he was late with the payments of the bankruptcy reorganization obligations. He stated that workers are not connected to 800 years of service, that many workers lack 14-15 years of service, which is why many cannot retire or because of this they receive temporary benefits of around 140 euros per month.
He also indicated that property worth around 10 million euros was sold, and that the money was being lent to other Brković companies.
Brković said that he still owes the workers about half a million euros, and that he guarantees that he will get that money, while he does not recognize other debts because they are not in the documents of the bankruptcy administration.
Democrat MP Zdenka Popović said that HTP "Boka" is an example of crony privatization, as well as that the owner and his managers did not learn the basics of management, which is why they destroyed the pearl of Montenegrin tourism.
"He was not able to gather around him people who know more than him. They took huge loans and boasted, and what happened happened," said Popović.
She said that the company was sold for 22 million and that at that time it was worth 70 million according to the balance sheet, and that they gave guarantees of 2,5 million euros for the investment program and promissory notes that expired in 2009 and were not renewed. She stated that the former government could terminate the harmful contract without paying compensation of 70 percent of the purchase price because it was only valid if the buyer invested at least 50 percent of the required amount.
Popović called Brković a small businessman and auto parts seller, who after the remaining failed businesses should not have been in a position to manage a large hotel company.
After that, there was an argument between Brković and members of the ruling coalition. Brković said that he did not come to be insulted and called a criminal, as well as that he is an honorable man and that the company was the most orderly taxpayer until eight years ago. He also stated that it is not true that his companies owe 20 million euros as written on the black lists of the Revenue Administration, but six million, and that he does not recognize the remaining amount.
The MP of Prava Montenegro Marko Milačić repeatedly asked Brković to say who deceived him and that he should offer himself to the state prosecutor's office as a protected witness.
DF MP Dragan Bojović said that this is one of the privatizations in the past 30 years that destroyed the Montenegrin economy, as well as that many things will be cleared up when a professional and independent prosecutor's office is formed soon.
The representatives of "Vektra" soon left the meeting with protests and arguments. DPS MP Danijel Živković said that he wanted to ask Brković who cheated him, as well as why he didn't ask for termination of the contract when he realized that he had been cheated.
They demand that all workers' claims receive priority in payment
Yesterday, the Commission adopted conclusions by which it will ask the bankruptcy administration to include the workers' claims in the first payment order, that it will ask the Commercial Court to suspend further property sales except those that are necessary according to the bankruptcy program, and that it will ask the prosecution for information about whether they are conducting an investigation into this privatization and at what stage it is.
They will also request that, in the event of the declaration of bankruptcy in "Vektra Montenegro", the assets of "Vektra Boka" will be removed from the bankruptcy estate.
DPS MP Petar Ivanović proposed to adopt the conclusions in order to enable Brković to continue managing the company and investing.
The representative of the Ministry of Economic Development, Ivana Đurović, said that creditor workers or the Revenue Administration can request the introduction of classic bankruptcy in "Vektra Bok", which would make debt payments to workers a priority and in the first payment order.
Requested amendments to the Law on Bankruptcy
The committee adopted the conclusions from the previous session on the examination of the position of workers in the bankrupt aluminum plant, which envisages the initiation of an initiative to amend the Bankruptcy Law in order to provide workers with labor rights in those companies, as well as requiring the bankruptcy administration and Uniprom to provide unhindered work for the union and union representatives and to return the premises to the union for use.
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