Cantonal Court rules in favour of Mulahasanović and FDS

The Cantonal Court in Sarajevo on 17 March 2014 upheld the appeal of the Sarajevo Tobacco Factory (FDS) and annulled the first-instance security measure issued at the request of representatives of the FBiH Government, BH news agency Patria (NAP) has learned.

In this way, the Cantonal Court annulled the decision of the Municipal Court, which had issued a temporary security measure regarding the appointment of the Supervisory Board, contested by representatives of the FBiH Government.

Following this decision, we have learned, the Supervisory Board and the Management of FDS, led by Edin Mulahasanović, elected at the last shareholders' meeting, can continue to operate at full capacity.

- The appeal of FDS is upheld and the first-instance decision is reversed, so that the proposal for ordering a court security measure is rejected – states the decision of the Cantonal Court from 17 March this year.

The Federal Ministry of Agriculture and the representative of state capital in FDS (40%) Jasmin Jaganjac, attempted to contest the constitution of the new Supervisory Board and the decisions made by this body.

The security measure sought the suspension of the implementation of decisions on the constitution of the FDS Supervisory Board, on the appointment of Kemal Bektešević as Chairman of the Supervisory Board, and the decisions of that Supervisory Board on the appointment of executive directors of FDS. However, the Cantonal Court rejected all of this and certified the results of the last Shareholders' Meeting of FDS, NAP reports.