Serbia sues bankrupt Austrian company

Serbia sues bankrupt Austrian company

The Belgrade-based daily Večernje Novosti also reported that the Austrian company is preparing a lawsuit of their own.

Alpine Bau GmbH went bankrupt in 2013, after which the Mostogradnja company took over to finish the bridge. The total cost remains unknown at this time.

Because of additional works that Alpine carried out the figure found in the contract has been exceeded, "but there has been no agreement with the investor about by how much," according to the paper. Alpine officials are saying the bridge cost slightly more than EUR 100 million, while Roads of Serbia accept about half that figure.

According to the report, it is likely that the final number will have to be determined through arbitration, "and Apline worked with the German DSD with whom it had formed a consortium," writes the daily. Roads of Serbia will go to arbitration with the German company, because it is solvent, while Alpine is bankrupt.

The Austrian company's liabilities toward Serbia alone reach EUR 136 million. This sum includes the money sought by Roads of Serbia, Corridors of Serbia, and various contractors and suppliers.