New protests: Aspek bakery claims 40 million KM, Addiko bank failed to honor loan agreement!

SARAJevo, (Patria) - Protests by employees, suppliers, and customers of Aspek d.o.o. and other interested parties, a once very successful Sarajevo company that employed nearly 200 people, have been scheduled for tomorrow in front of the headquarters of Addiko bank (formerly Hypo Alpe Adria Bank) in Sarajevo, reports Patria agency.

This is another episode in the saga of Hypo Alpe Adria bank, or Addiko bank today.

The reason for these protests is the multiple gross violation of loan agreement obligations by Addiko Bank, the legal successor of Hypo Alpe Adria Bank BH, against which a lawsuit for damages in the amount of 23.4 million KM, caused by multiple gross violations of the loan agreement by the Bank, is being conducted before the Municipal Court in Sarajevo.

The total damage caused to Aspek d.o.o. by Addiko Bank has since, with default interest, exceeded the amount of 40 million KM. This is one of the largest individual claims for damages against banks in the region.

As explained to Patria by Meho Alić, former executive director of Aspek, things became complicated when Hypo bank could not honor the loan agreement provisions and when it stopped the disbursement of the remaining 1.4 million KM, and when major projects were halted, jeopardizing the company's operations.

- Due to problems in their operations, they stopped our project, and we sued them. They are now offering to forgive us 3.5 million of the loan, but we will not accept that, our lawsuit is clear – says Alić, emphasizing that due to the bank's lack of seriousness, they were literally on the verge of collapse.

They particularly want to emphasize that this case does not concern the CHF issue, although Addiko Bank's loan was approved in CHF.

- We have been duly paying our obligations – added Alić.