Borovo sells the assets in someone else’s property?

Croatian Company Borovo sells the premises of the Footwear factory Boreli from Sombor across Serbia despite the Regulation about the protection on the assets from the parts of the former Yugoslavian companies, reports Belgrade’s Press. The article says that the regulation predicts two companies (Borovo and Boreli) to make a deal around delineation of the assets. Croatian company repulses the regulation claiming that Borovo is the owner of the factory in Sombor.

A deadline for the agreement according to the regulation that was accepted three years ago was extended each time for six months. The latest deadline is the 31st of March 2012. During this period Borovo has sold 28 Borelli stores, and as the Boreli director Mirko Vujanovic claims, the assembly representative and the legal representative for Borovo in Serbia Bosko Risitc mediated in selling of the assets.

- We demand the alteration of the Regulation with the prohibition of selling the Boreli’s stores as long as the companies don’t sign the bilateral agreement over the implementation of the Treaty about the succession with Croatia, The solution for Boreli exists and it is very simple. It is only necessary to determine the capital shares of Borovo, Boreli and the state so the Ministry of the economy and the Agency for privatization could bring a program of re-structuring Sombor’s company so the company could be privatized. The serious buyer has already contacted us but he demands for a clear property relations - says Vujanovic. He added that the stores across Serbia were sold below the price ‘’three to five times lower than estimated value’’.

The Boreli trade-unionist Stipan Egzeta announced the protest in front of the headquarters of Serbian government since he claims that ‘’the government doesn’t do anything to prevent this plunder.’’