Delta owner sues former associate

Delta Holding President Miroslav Miskovic has filed charges against former associate Milka Forcan, according to local media. Miskovic, Serbia’s best-known tycoon, is suing Forcan over unresolved issues regarding the ownership of the Delta Maxi retail unit of the country's largest privately-held company, but also over the business moves she made in in the Jugohemija company. Delta owner sues former associate Several Belgrade dailies wrote that Miskovic has filed charges, but also, that Forcan would counter-sue. Ownership issues between Miskovic and Forcan and her family have led to the break-up of the dominant Serbian business partnership two months ago. According to media reports, Miskovic wished to sell Delta Maxi in its entirety to a Belgian company, but Forcan and her sister, who have shares in the company, did not agree to do so. The two allegedly contest their ownership share. Reports also state that Forcan transferred some property of Jugohemija to another company. She is the head of the board of directors in Jugohemija, while her sister is the general director. Delta officials and Miskovic’s lawyer would not give any statements regarding the reports. On Monday, the prosecution in Belgrade confirmed that they had received the complaint. Previously, Forcan told B92 that while she understood the interest of the public, she did not wish to comment on the rumors. She stated that it was "best to let the lawyers do their jobs". Even though Forcan left Delta two months ago, sources state that there have been problems for two years now between her and Miskovic. Ruza Cirkovic, who reports on economic issues, believes that a possible court case could show how much Miskovic was rewarding some of his associates, "and who paid taxes" for those rewards. However, she believes that Forcan has a stronger political backing than Miskovc, and that the conflict could be the result of an effort "to discipline Miskovic politically". “This could be a light disciplining of Miskovic ahead of this large sale that he is preparing, and Forcan could turn out to be the victim if this ends up as some kind of political racketeering. However, if it is a serious disciplining of Miskovic, Forcan could be used as an insider,” Cirkovic said. According to rumors, Miskovic plans to completely withdraw from the retail business after the sale of Delta Maxi. There has been public speculation that Miskovic would then redirect that money toward his investment founds, and invest in agriculture. A file photo of Forcan and Miskovic (FoNet)

Delta owner sues former associate

Several Belgrade dailies wrote that Mišković has filed charges, but also, that Forcan would counter-sue.

Ownership issues between Mišković and Forcan and her family have led to the break-up of the dominant Serbian business partnership two months ago.

According to media reports, Mišković wished to sell Delta Maxi in its entirety to a Belgian company, but Forcan and her sister, who have shares in the company, did not agree to do so. The two allegedly contest their ownership share.

Reports also state that Forcan transferred some property of Jugohemija to another company. She is the head of the board of directors in Jugohemija, while her sister is the general director.

Delta officials and Mišković’s lawyer would not give any statements regarding the reports. On Monday, the prosecution in Belgrade confirmed that they had received the complaint.

Previously, Forcan told B92 that while she understood the interest of the public, she did not wish to comment on the rumors. She stated that it was "best to let the lawyers do their jobs".

Even though Forcan left Delta two months ago, sources state that there have been problems for two years now between her and Mišković.

Ruža Ćirković, who reports on economic issues, believes that a possible court case could show how much Mišković was rewarding some of his associates, "and who paid taxes" for those rewards.

However, she believes that Forcan has a stronger political backing than Miškovć, and that the conflict could be the result of an effort "to discipline Mišković politically".

“This could be a light disciplining of Mišković ahead of this large sale that he is preparing, and Forcan could turn out to be the victim if this ends up as some kind of political racketeering. However, if it is a serious disciplining of Mišković, Forcan could be used as an insider,” Ćirković said.

According to rumors, Mišković plans to completely withdraw from the retail business after the sale of Delta Maxi.

There has been public speculation that Mišković would then redirect that money toward his investment founds, and invest in agriculture.