Slovenia to pay millions in damages to Kragujevac Zastava

The decision was adopted by the first-instance court in Ljubljana, the Belgrade-based daily Danas reported last week, noting that Zastava expects to be awarded suststantially higher damages increased by interests calculated for the past 24 years.

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Zastava General Manager Dragan Srejovic said that the factory will appeal the court in Strasbourg in case the second-instance court in Ljubljana annuls the ruling based on Slovenia's appeal.

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Srejovic said that Zastava has valid documents on its property in all countries created in the territory of former Socialist Federal Republic of Yugoslavia.

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Srejovic also voiced the expectation that the problem of Zastava's property in Bosnia-Herzegovina, specifically in Sarajevo, would be solved soon. Zastava owns two sale and repair facilities in Sarajevo, the value of which has been estimated at around EUR 1.4 billion.

The factory collected the damages for its property in Croatia and Macedonia based on a mutual agreement a while ago.

Like Slovenia, Montenegro is also unwilling to solve the problem of Zastava property on its territory through mutual agreement, which is why the factory recently filed a suit to the Podgorica court asking for compensation for the site in Becici where a luxury hotel Splendid was built, the value of which has been estimated at EUR 11.5 million.

(Telegraf.co.uk/ Tanjug)