FBiH to Send Three Companies into Bankruptcy

SARAJEVO, (Patria) - The Federal Government has made certain decisions regarding the initiation of bankruptcy proceedings for three companies.

These are KTK Visoko, Fabrika duhana Mostar, and Energoinvest-Comet.

Namely, the Government of the Federation of BiH has tasked the management of KTK Visoko to submit a written proposal for the opening of bankruptcy proceedings to the competent court.

Also, the Government will approve 50,000 KM from the FBiH budget for this year to initiate bankruptcy proceedings for Fabrika duhana Mostar, whose several privatization attempts have failed. These funds will also be used for the realization of any other activities before court and other bodies.

The Federal Ministry of Agriculture, Water Management and Forestry has been tasked to prepare proposals for acts necessary for convening the assembly of FDM for the Government – it was announced from the Government.

The third bankruptcy concerns Energoinvest-Comet Sarajevo, which was privatized, but the contract was terminated due to non-fulfillment of obligations.

The Federal Government today tasked the Federal Ministry of Energy, Mining and Industry to initiate the necessary activities for holding the Assembly of Energoinvest-Comet Sarajevo, and to prepare a draft decision on giving prior consent for the appointment of the Supervisory Board and acting director of this company, with the aim of creating prerequisites for initiating bankruptcy proceedings – it is stated in the announcement.