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A:
Buyer can pawn property of RTB Bor after it pays the full selling price
Belgrade,
15 March 2007
The Serbian Privatisation Agency stated today commenting on the allegations made by the press that the property of the mining and metallurgical complex RTB Bor will be pawned, that the buyer Cuprom from Romania can pawn it only after it pays the selling price in full.
The Agency recalls that the contract on sale of the property of RTB Bor (which consists of the Bor copper mine, the Majdanpek copper mine and the copper smelting plant and refinery), signed on March 5 this year, stipulates that the clausula intabulandi, that is, the right of the buyer to get registered as the legal owner of a property, will be given to Cuprom once it pays the full selling price.
That means that Cuprom cannot pawn any part of RTB Bor's property until it pays the full price for that property.
Also, commenting on the allegations that the Law on privatisation stipulates that a buyer of a company can pawn only 5% of the entire property, the Agency points out that such a regulation does not exist in the Law on privatisation, which means that these allegations are false.
That means that Cuprom cannot pawn any part of RTB Bor's property until it pays the full price for that property.
Also, commenting on the allegations that the Law on privatisation stipulates that a buyer of a company can pawn only 5% of the entire property, the Agency points out that such a regulation does not exist in the Law on privatisation, which means that these allegations are false.
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