Croatian Embassy continues to pay rent to Stanić: Feroelektro incurs a monthly loss of 12,800 KM

Only after the entry of director Senad Smajić and Feroelektro employees into the company's premises and an inspection of the available documentation did the full extent of the damage caused by the contracts signed by Stanić Invest with Feroelektro's tenants after privatization become apparent, writes the BiH news agency Patria.

Smajić, in a conversation with Patria, reveals that after all contracts are verified, criminal charges will very likely be filed against the former owners due to the detrimental nature of the contracts and the fact that they almost destroyed Feroelektro.

One of these detrimental contracts was signed with the Embassy and Consulate of the Republic of Croatia. According to the contract, which was signed for an indefinite period, they pay 16 KM per square meter in the very center of Sarajevo, on Maršala Tita Street, and they use 800 square meters of space.

On a monthly basis, this amounts to 12,800 KM, which continues to be paid into the account of one of Stanić's companies established within Feroelektro.

- The real rental price per square meter at this location would be between 26 and 30 KM. The contract was signed two years ago, and according to its provisions, the Embassy has a pre-emptive right to purchase if the property were to be put on the market. It would be fair for the Embassy to request the termination of the contract itself and for a new one to be made. However, we have not yet communicated with the Embassy, because we truly have a lot of work, and unfortunately, I do not have qualified staff who could react quickly – says Smajić.

The Croatian Embassy had previously claimed to the Patria agency that they respect the laws of Bosnia and Herzegovina, but they did not clarify or respond to the inquiry as to why they entered into a business deal with Stanić Invest, given the court dispute.

- The Embassy of the Republic of Croatia in Bosnia and Herzegovina has concluded a lease agreement for business premises with the company Feroelektro and, in accordance with its contractual obligations, pays the corresponding rent, while respecting all legal regulations of the host country – states the response from the Croatian Embassy to Patria.

It is interesting that even after the verdict of the Municipal Court in August 2014 on the termination of the privatization contract for Feroelektro, which was also confirmed by the Cantonal Court in December 2014, the Stanić family did not give up and filed an appeal with the Supreme Court of the Federation of Bosnia and Herzegovina, which rejected Stanić's request for a review of the verdict, but that is not the end of it. The Stanić family will file an appeal with the Appellate Panel of the Court of Bosnia and Herzegovina.

Only in April 2016 did the Assembly dismiss Goran Stanić and the Supervisory Board, and Smajić was registered as the director, and the Government of the Federation of Bosnia and Herzegovina as the owner of the company. However, they found a legal mess, accumulated debts, and blocked accounts.