A list of major owners and creditors of Elektrobosna

Foto: CIN

By the Center for Investigative Reporting

Three men currently hold over 90 percent of the shares in Elektrobosna. At least one individual and several organizations are pressing claims against the company. The players include:

Stockholders:

  • Muhamed Mačak, who controls about 29 percent of Elektrobosna’s stock, for which he says he paid between 400,000-600,000 KM. He is fighting the possible loss of Elektrobosna assets in the bankruptcy auction.
  • Milorad Škrbić, who controls about 31 percent of Elektrobosna’s stock, for which he says he paid about 200,000 KM. Together with Mačak he is fighting the possible loss of Elektrobosna assets in the bankruptcy auction.
  • Zvonko Matijaš, who controls about 29 percent of Elektrobosna’s stock and is the representative of London-based subsidiary New East Co Ltd. He won’t say how much money he paid for his shares. He claims that subsidiary Elektrobosna-N allegedly owes him €400,000 for coke he delivered.

Pressing claims:

  • Franjo Ćosić, general manager of subsidiary Elbokomerc. He claims he is the owner of 14 percent of Elektrobosna stock, and that Matijaš has illegally taken it. He filed a lawsuit against Matijaš, seeking either the 14 percent of the shares or a settlement of 2.2 million KM.
  • Supported by a court judgment, Mostar-based electrical utility Elektroprivreda Herceg Bosne is seeking payment of a delinquent 22 million KM electric bill.
  • Hypo Alpe Adria Bank began foreclosure procedures on subsidiary Elektrobosna-N assets (Furnaces 4 and 5 and their infrastructure) because the company has an outstanding loan of 4 million KM.
  • Jajce municipality says it is owed one million KM in back taxes from Elektrobosna and Elektrobosna-N. The municipality has taken no steps to collect that money.
  • The health fund of Srednjebosanski Canton is seeking 1.4 million KM of health insurance benefit payments from Elektrobosna-N, according to January 2005 figures.
  • Elektrobosna and Elektrobosna-N owe 5 million KM in pension insurance payments to the FBiH Pension Fund.