The Milosevic Law Firm has successfully represented Alumina before the Higher Commercial Court in Banja Luka in a property-related dispute with Pavgord and Ukio Bank.
"On February 5, 2021, the District Commercial Court in Banja Luka passed a first-instance verdict in which it fully adopted the claim of the company Alumina against Pavgord Foca and the Lithuanian Ukio Bank," the firm informed. "This verdict, now final, found that the three pledges registered in 2012 on Alumina’s property, with a total value of around EUR 79 million, are null and void."
The verdict "represents an important segment of the legal practice in Bosnia and Herzegovina, and in Republika Srpska," the Milosevic Law Firm reported.
Alumina is a metal industry and chemicals company and an important regional economic factor, employing over 1,500 people, according to the firm.
The Milosevic Law Firm team was led by Partner Vladimir Milosevic.