Croatian oil company sues Serbia

Croatian oil company INA will be asking a Belgrade court to give 167 gas stations and EUR 117mn back to the company.

Izvor: Beta

Monday, 02.08.2010.

09:57

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Croatian oil company INA will be asking a Belgrade court to give 167 gas stations and EUR 117mn back to the company. INA is also asking for EUR 90mn for losses incurred from control being assumed over them in the sale of Russian Lukoil, Croatian Radio Television (HRT) reported. Croatian oil company sues Serbia HRT said that the Serbian government (after the breakup of former Yugoslavia) assumed control over the gas stations and along with Beopetrol, sold them to Russian Lukoil, adding that "no one wants to comment on the case in Serbia". The Croatia-based oil company claims that it would not be giving up on the case and that it is ready for the next hearing in September. When Beopetrol was being sold to Lukoil, current Prime Minister Mirko Cvetkovic was at the head of the Privatization Agency. Former Serbian government energy advisory, Zorana Milanovic, said that the sale was "problematic", but that Lukoil is not responsible for the problem, pointing the finger at the Serbian side. HRT said that the court case could last for years and that the Serbian government undertook an obligation in its contract with Lukoil that it would pay all possible court costs. Meanwhile, reports said that a new hearing in the dispute was scheduled for September 17 in the Belgrade Commercial Court. Attorney Sava Andjelkovic, who represents the Serbian Shareholders Fund, said that INA’s case is "legally sloppy". INA is asking for damages to be paid because of the sale of Belgrade’s Beopetrol, which was a part of INA before the breakup of the former Yugoslavia. Two years ago, INA took to court the Serbian Privatization Agency, Shareholders Fund and Russian Lukoil, which owns Beopetrol now. INA is asking that Lukoil returns 167 gas stations and pays EUR 117mn, which is the amount Beopetrol was sold for in 2003, as well as EUR 90mn for lost profits. “INA’s charges have no legal foundation, because there is no existing decree that it is based on,” Andjelkovic said.

Croatian oil company sues Serbia

HRT said that the Serbian government (after the breakup of former Yugoslavia) assumed control over the gas stations and along with Beopetrol, sold them to Russian Lukoil, adding that "no one wants to comment on the case in Serbia".

The Croatia-based oil company claims that it would not be giving up on the case and that it is ready for the next hearing in September.

When Beopetrol was being sold to Lukoil, current Prime Minister Mirko Cvetković was at the head of the Privatization Agency.

Former Serbian government energy advisory, Zorana Milanović, said that the sale was "problematic", but that Lukoil is not responsible for the problem, pointing the finger at the Serbian side.

HRT said that the court case could last for years and that the Serbian government undertook an obligation in its contract with Lukoil that it would pay all possible court costs.

Meanwhile, reports said that a new hearing in the dispute was scheduled for September 17 in the Belgrade Commercial Court.

Attorney Sava Anđelković, who represents the Serbian Shareholders Fund, said that INA’s case is "legally sloppy". INA is asking for damages to be paid because of the sale of Belgrade’s Beopetrol, which was a part of INA before the breakup of the former Yugoslavia.

Two years ago, INA took to court the Serbian Privatization Agency, Shareholders Fund and Russian Lukoil, which owns Beopetrol now.

INA is asking that Lukoil returns 167 gas stations and pays EUR 117mn, which is the amount Beopetrol was sold for in 2003, as well as EUR 90mn for lost profits.

“INA’s charges have no legal foundation, because there is no existing decree that it is based on,” Anđelković said.

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