Based on a final court verdict from 2019, more than 420.000 euros were withdrawn from the giro account of HTP "Ulcinjska rivijera" in the name of the claim of the minority shareholder of the Atlas fund, which transferred the rights to the fund "Qunatum Investments" from Podgorica, it was confirmed by "News in Ulcinj Riviera.
The Atlas fund did not agree to the long-term lease of part of the company's property on Velika plaža in 2017, and all dissenting minority shareholders, who submitted a written notification of their intention to exercise the right to buy back shares at market value within the legal deadline, claimed the right to compensation of their claims.
In 2017, "Ulcinjska riviera" leased the hotels "Olimpik" and "Belvi" with annexes to the company Karizma for 30 years.
Director of "Ulcinjska Riviera" Ćamil Hodža said that the value of the action was around 10,5 euros.
"We are still waiting for the official documentation about it. The government should now pay us that money, but who knows when that will be," Hoxha said.
He reminded that most of the other minority shareholders paid their claims more than five years ago.
The owners of 181.073 shares, who did not agree with the decision, asked "Ulcinjska Riviera" to pay them EUR 10,5 per share, which was the market value on the day of the Shareholders' Assembly, in accordance with the Companies Act. As the hotelier from Ulcinj did not have the financial means to pay them at that time, court proceedings followed, which ended with final judgments in favor of the minority shareholders.
The government then diverted 2,2 million euros from its budget to the joint-stock company, which became the owner of 11,87 percent of the shares in its company.
Since "Ulcinjska Riviera" was again unable to return the stated amount, in April 2019 the Government of Duško Marković tasked the Ministry of Finance and the Ministry of Sustainable Development and Tourism to initiate the process of conversion of HTP's debt to the Government into share capital in accordance with the law.
The shares were transferred through an out-of-court settlement agreement, and the decision was made by the Board of Directors of "Ulcinjska Riviera" at its session on October 28.10.2022, XNUMX.
After that, the Government became the owner of some 22 percent of the total number of shares in the company from Ulcinj.
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