At the seventh sitting, the Privatisation Committee members considered the Ministry of Economy and Regional Development’s Reports on the Activities of the Privatisation Agency for November and December 2008 and the Agency’s Work Plans for December 2008 and January 2009. Also, the Committee discussed the Ministry of Economy and Regional Development’s Reports on the Activities of the Republic of Serbia Share Fund for November and December 2008, as well as the Information of the Privatisation Agency’s Bankruptcy Centre on the initiation of bankruptcy proceedings against Robne Kuce Beograd Enterprise and Company.

The sitting was chaired by the Committee Chairman, Milan Nikolic, and attended by Assistant Minister of Economy and Regional Development Misela Nikolic, director of the Privatisation Agency Vesna Dzinic, director of the Bankruptcy Centre Dejan Jokic, director of the Share Fund Aleksandar Gracanac and representatives of the Association of citizens, shareholders and creditors of Robne Kuce Beograd.

The Committee members accepted the Ministry of Economy and Regional Development’s Reports on the Activities of the Privatisation Agency for November and December 2008 and the Agency’s Work Plans for December 2008 and January 2009 by a majority of votes. The Committee also accepted the Ministry of Economy and Regional Development’s Reports on the Activities of the Republic of Serbia Share Fund for November and December 2008 by a majority of votes.

In the continuation, Dejan Jokic, the director of the Bankruptcy Centre, briefly outlined for the Committee members the Information of the Privatisation Agency’s Bankruptcy Centre on the initiation of bankruptcy proceedings against Robne Kuce Beograd Enterprise and Company. He stated that bankruptcy proceedings against Robne Kuce Beograd Enterprise and Company had been initiated in 2002, and that in 2006 the Privatisation Agency became its bankruptcy manager, and that the Company was sold in 2007 for 360 million euros, and that all outstanding debts had been paid to the creditors, except in cases where court proceedings are in progress.

On the behalf of the Association of citizens, shareholders and creditors of Robne Kuce Beograd, the Committee was addressed by Milan Vujin, the Association’s legal representative, briefing the Committee on the problems the Association faces in the process of realising its members’ rights. He pointed out that the Association is dissatisfied with the manner of allocation of the about 220 million euros left over from the sale price of the Robne Kuce Beograd Company. He stressed that under the Bankruptcy Law the remaining proceeds from the sale should be allocated according to the provisions of the Privatisation Law, so that the workers receive 30% of the capital. The workers were paid 135 euros per year of employment, which accounts for about 15%, and the workers from Montenegro and Bosnia-Herzegovina were not included in the process.

In the discussion on this item on the agenda, the Committee members agreed that the Committee appeal to all relevant authorities to solve this problem and passed a Conclusion to hold a joint sitting of the Justice and Privatisation Committees in order to discuss the objections to the actions of the Commercial Court, as well as to forward a recommendation to the Government of the Republic of Serbia and Commercial Court to speed up the processes and solve the problems concerning Robne Kuce Beograd.