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Croatia's Ingra loses suit against Bosnian company over Iraq debt

Autor: half
SARAJEVO, Oct 12 (Hina) - Zagreb's Ingra construction company has lost a suit against Sarajevo's Hidrogradnja from which it tried to collect about EUR 10 million for works they did together in Iraq before the break-up of the former Yugoslavia, Sarajevo's Dnevni Avaz daily said on Friday.

Ingra's claim was rejected by a court in Belgrade, where the disputed amount had been blocked in the account of Jubmes bank for years. Ingra was unable to receive the payment for all the work it did in Iraq as Hidrogradnja's partner, but the court found the money deposited in the account belongs to the Bosnian company.

Hidrogradnja supervisory board chair Emir Felic has said the EUR 10 million has already been collected in bonds and will enter the payments system of Bosnia's Federation entity.

Half the amount will be used to pay workers and the rest in an attempt to financially consolidate the former construction giant.

(Hina) ha

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