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A:
Contract of sale for Juzna Morava from Vladicin Han terminated
Belgrade,
1 February 2008
The Serbian Privtisation Agency stated today that it has terminated the contract for the sale of the company Juzna Morava from Vladicin Han with buyer Stanisa Stojanovic from Vranje, due to the fact that he has not met the conditions agreed in the contract following several deadlines.
According to the statement, the Privatisation Agency verified that the buyer did not pay the second installment of the purchase price, did not start production, and did not make the required investments.
As a result of inadequate proceeds and production activities there were problems with the payment of salaries to employees.
Considering the fact that the last deadline for proving that the conditions set out in the contract had been met was January 30, the Privatisation Agency informed the buyer today that the sale contract has been terminated.
As a result of inadequate proceeds and production activities there were problems with the payment of salaries to employees.
Considering the fact that the last deadline for proving that the conditions set out in the contract had been met was January 30, the Privatisation Agency informed the buyer today that the sale contract has been terminated.
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