ZAGREB, Aug 2 (Hina) - The Croatian Privatisation Fund (HFP) could not sell the Karlovac-based Factory of Gas Turbines (TPT) to the company 'SB invent' because the company failed to confirm its soundness in a credible manner, an
assistant to HFP director, Bozena Mesec, told reporters in Zagreb on Wednesday. She also reported that the HFP would continue its efforts aimed at finding the strategic partner for the Split hotel complex 'Lav' and if it fails to find it, the hotel company will have to face bankruptcy proceedings. Mesec showed reporters the copy of a fax sent to the HFP by SB's representative, including a copy of a cheque for DM20 million. "This cannot be a reliable proof of soundness on the basis of which the HFP would sell its package of TPT shares," Mesec said. She added it had been established that the company 'SB invent' was not regi
ZAGREB, Aug 2 (Hina) - The Croatian Privatisation Fund (HFP) could
not sell the Karlovac-based Factory of Gas Turbines (TPT) to the
company 'SB invent' because the company failed to confirm its
soundness in a credible manner, an assistant to HFP director,
Bozena Mesec, told reporters in Zagreb on Wednesday.
She also reported that the HFP would continue its efforts aimed at
finding the strategic partner for the Split hotel complex 'Lav' and
if it fails to find it, the hotel company will have to face
bankruptcy proceedings.
Mesec showed reporters the copy of a fax sent to the HFP by SB's
representative, including a copy of a cheque for DM20 million.
"This cannot be a reliable proof of soundness on the basis of which
the HFP would sell its package of TPT shares," Mesec said. She added
it had been established that the company 'SB invent' was not
registered at the register of companies, and was registered at the
crafts register with the minimum basic capital of 5,000 kuna.
Commenting on problems at the hotel complex 'Lav', whose workers
have been on strike since yesterday due to the announced bankruptcy
proceedings and the non-payment of salaries, Mesec said the HFP had
done everything possible to find the strategic investor for the
purchase of the majority package of shares. So far, it has not found
the strategic investor because investors requested "too high
compensation" for the settling of the company's debts.
The HFP will continue negotiating with investors and if
negotiations fail, a solution will be sought through bankruptcy
proceedings, Mesec said. The HFP will pay the unpaid salaries and
will continue to pay them until the arrival of the strategic partner
or the beginning of bankruptcy proceedings.
(hina) rml,