The Commercial District Court in Banjaluka adopted in full the claims of Alumina d.o.o. Zvornik, against Pavgord d.o.o. Foča and the Lithuanian Ukio Bank. The first-instance court decision ruled that the three pledges registered on Alumina assets, their total worth amounting to BAM 154 million (approx. EUR 79 million), are null and void.
In these proceedings, the Commercial District Court accepted the argumentation of Milosevic Law Firm concerning the flagrant breach of the law and illegal actions of the then Lithuanian owners and management in the process of concluding and registering the concerned pledges, which had significantly burdened Alumina’s assets and jeopardized the factory’s existence.
In this court case, Alumina d.o.o. Zvornik has been represented by Vladimir Milošević, Attorney-at-Law and Partner.
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