The company "Adriatic Properties", the lessee of the elite resort Sveti Stefan-Miločer, submitted to the Commercial Court a decision on the costs of the arbitration before the court in London, in order to recognize the foreign decision for enforcement.
The companies of Hotel and Tourist Enterprise "Miločer" and "Sveti Stefan hoteli" AD, majority-owned by the state, which leased the hotel complex, are obliged to pay 600 thousand pounds to "Adriatic Properties", which is the cost of the arbitration proceedings in London.
The dispute that "Adriatic Properties" initiated, demanding that it be paid one hundred million euros for breach of contract, is still pending before the International Court of Arbitration. State companies responded with a lawsuit.
The arbitration court recognized the costs so far that should be paid by Montenegrin companies because they lost all temporary measures requested by these two state-owned companies and all previous issues (a total of 20 decisions), except for one request. Such a decision of a foreign court needs to be recognized before the domestic one, which would make the Greek businessman's company Petros Statis could initiate enforcement proceedings, that is, the accounts of domestic companies should be blocked.
On the other hand, due to the delay in the payment of the rent of "Adriatic properties", HTP "Miločer" found itself in an alarming situation. The Revenue and Customs Administration blocked HTP "Miločer" due to a debt of slightly more than 48 thousand euros, and the situation in that government company, which manages the land complex in Miločerski Park where the new hotel "Kraljičina Plaža" is being built, is alarming because the workers have not received their salary. , and the settlement of all obligations is late.
A letter was sent to the Government to organize a meeting as a matter of urgency, and "Adriatic Properties" also expects to meet with representatives of the Government in order to define mutual debts.
The old hotel "Kraljičina plaža" was demolished and a new hotel with an annex, with 66 apartments for the market, is being built on its site and on the lot next to it.
The company "Adriatic properties" has concluded a contract with HTP "Miločer" on the multi-decade lease of the former hotel "Kraljičine plaže" and land, in whose name it pays 87 thousand euros per quarter. By the way, this is the only income of HTP "Miločer". In addition to the contract with HTP, in 2007 a contract was concluded with the then owner of the city hotel Sveti Stefan and Villa Miločer, Hotel Group "Budvanska Riviera", which also leased these most important tourist facilities on the Montenegrin coast to the company of a Greek businessman for three decades. In the meantime, ownership was transferred to the company "Sveti Stefan hoteli" AD, to which 380 euros are paid quarterly for rent.
"Adriatic Properties" has already stopped the construction of the new hotel "Kraljičina Plaža" with outbuildings and apartments for sale in Miločerski Park for two and a half years, as long as the arbitration proceedings are ongoing, and both the city-hotel and the villa Miločer were closed for two summers, only to last summer they were open for about two months, but not at full capacity.
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