Slovenian Grep sues Serbian Delta

The Slovenian company Grep has sued the Serbian firm Delta Immobili over its failure to pay the second installment of the EUR 20mn.

Izvor: Beta

Thursday, 06.08.2009.

09:39

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The Slovenian company Grep has sued the Serbian firm Delta Immobili over its failure to pay the second installment of the EUR 20mn. The money was supposed to be paid for the construction of the sports-business center Stozice. Slovenian Grep sues Serbian Delta Beta news agency quoted a report by RTV Slovenia, that said Grep, a company that was founded by the city of Ljubljana for the construction of Stozice, filed suit on July 20, with the justification that Delta Immobili, by its failure to pay the agreed obligations, had unilaterally withdrawn from the contract. According to the terms of the contract, Delta was to pay Grep EUR 48.5mn for the construction of the sports-business center in which Delta would open a sports center. Up until now Grep has paid only the first installment in the amount of EUR 5mn, and after the second installment was not paid by the extended deadline, Grep decided to annul the contract with Delta and seek a new investment partner. In July, Delta said that it was "surprised" because the contract had been annulled, that Grep had not responded to Delta's amended offer to participate in the project and announced that it would begin a lawsuit. As stated by Ljubljana Mayor Zoran Jankovic at the end of June, in the construction of Stozice Delta will be replaced by the Austrian Supernova, and contracts have already been signed. The contract on the construction of Stozice, worth EUR 242.5mn, was signed on Aug. 5, 2008 by the Belgrade-based Delta Real Estate and Grep, and for the building of that sports center was founded the company Delta Immobili.

Slovenian Grep sues Serbian Delta

Beta news agency quoted a report by RTV Slovenia, that said Grep, a company that was founded by the city of Ljubljana for the construction of Stožice, filed suit on July 20, with the justification that Delta Immobili, by its failure to pay the agreed obligations, had unilaterally withdrawn from the contract.

According to the terms of the contract, Delta was to pay Grep EUR 48.5mn for the construction of the sports-business center in which Delta would open a sports center.

Up until now Grep has paid only the first installment in the amount of EUR 5mn, and after the second installment was not paid by the extended deadline, Grep decided to annul the contract with Delta and seek a new investment partner.

In July, Delta said that it was "surprised" because the contract had been annulled, that Grep had not responded to Delta's amended offer to participate in the project and announced that it would begin a lawsuit.

As stated by Ljubljana Mayor Zoran Janković at the end of June, in the construction of Stožice Delta will be replaced by the Austrian Supernova, and contracts have already been signed.

The contract on the construction of Stožice, worth EUR 242.5mn, was signed on Aug. 5, 2008 by the Belgrade-based Delta Real Estate and Grep, and for the building of that sports center was founded the company Delta Immobili.

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