Q:
A:
Contract of sale of Zupa chemical industry cancelled
Belgrade,
1 July 2005
The Serbian Privatisation Agency stated today that the contract of sale of the socially-owned company Zupa chemical industry from Krusevac was cancelled.
The buyer, Vektra M company from Belgrade has not invested the required sum of money into Zupa chemical industry, as envisaged by the sales contact.
Also, the buyer failed to submit an auditing report within the deadline set by the contract.
Since the buyer had not corrected these irregularities and acted in line with the provisions of the sales contract, the Contract on the sale of socially-owned capital of the Zupa chemical industry through public tender was declared null and void, the Privatisation Agency said in the statement.
Also, the buyer failed to submit an auditing report within the deadline set by the contract.
Since the buyer had not corrected these irregularities and acted in line with the provisions of the sales contract, the Contract on the sale of socially-owned capital of the Zupa chemical industry through public tender was declared null and void, the Privatisation Agency said in the statement.
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