Agrobanka shareholders seek intl. arbitration
EU-based shareholders of the closed bank Agrobanka announced on Thursday they would initiate a proceeding for the return of their property.
Friday, 18.01.2013.
10:57
BELGRADE EU-based shareholders of the closed bank Agrobanka announced on Thursday they would initiate a proceeding for the return of their property. They stressed that they would launch the proceeding before the International Court of Arbitration in Washington. Agrobanka shareholders seek intl. arbitration "Since the deadline for consensual bilateral resolving of the dispute over an illegal appropriation of over EUR 70mn of the EU-based stockholders' property conducted by the state of Serbia has expired and since the state has ignored all international agreements and legal order, and because of the Serbian Government's ignoring attitude towards the entire case, the shareholders have decided to seek justice through international arbitration", the stockholders' release reads. The shareholders from the EU believe that Agrobanka was "pushed" into bankruptcy in order to eliminate ownership rights of all investors other than the state of Serbia, it is said in the statement. VIP
Agrobanka shareholders seek intl. arbitration
"Since the deadline for consensual bilateral resolving of the dispute over an illegal appropriation of over EUR 70mn of the EU-based stockholders' property conducted by the state of Serbia has expired and since the state has ignored all international agreements and legal order, and because of the Serbian Government's ignoring attitude towards the entire case, the shareholders have decided to seek justice through international arbitration", the stockholders' release reads.The shareholders from the EU believe that Agrobanka was "pushed" into bankruptcy in order to eliminate ownership rights of all investors other than the state of Serbia, it is said in the statement.
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