Serbia yet to repay debt of RTB Bor towards Greek company Mytilineos

Serbia has not yet paid USD 40 million to the Greek company Mytilineaos, former partner of RTB Bor, which won the dispute against the state at the International Court of Arbitration in Geneva this August, and it is impossible to find out when it will do so, as all state institutions claim that this issue does not fall under their competence, Danas writes.

The daily newspaper addressed the Ministry of Economy in an attempt to find out when Serbia intended to repay the Greek company. However, after they were directed at the prime minister's cabinet, and then to the State Attorney's Office, they were given identical answers – neither of the institutions was competent for the issue.

The newspaper reminds that Mytilineos initiated the dispute against Serbia in 2013, whereas the binding verdict according to which the state needs to pay USD 40 million to the Greek company was reached in August.

RTB Bor owed the company 4,000 tons of concentrate processed into cathodes, as well as USD 19 million in loans. The Greeks tried to collect the debt, but failed, as Bor had entered the restructuring process in the meantime, protecting it from creditors.

Mytilineos finally sued Serbia claiming that the state had prevented the Greek company from collecting its claims by extending the restructuring of RTB Bor and the Court of Arbitration recognized the complaint.

Serbia Zijin Copper doo Bor

Vlada Republike Srbije

Mytilineos

Mytilineos RTB Bor dispute

International Court of Arbitration in Geneva

debt of RTB Bor towards Mytilineos