Untitled Document

NEWS

FRIVOLOUSNESS OF INTERTRUST HOLDING BG ADVERSELY AFFECTS THE IMPORTANCE OF THE SALES CONTRACT IN ‘’MIN HOLDING ENGINEERING’’ AD NIS
TERMINATION OF SALES CONTRACT IS POSSIBLE

Nis, June 23 2008
The Center for monitoring the Privatization Agency has established the non-observance of the provisions of the Social Program regarding payment of earnings and other employee rights. The obligation of payment of six outstanding wages plus contributions for the period September 2007 – February 2008 is stated in the Contract. The Contract was partly performed, because only one outstanding payment was effected without contributions for September 2007.

In conformity with the Law on the sale of capital, the Buyer is obliged, within 60 days as of the date of receipt of the notification, to submit the documentation confirming that he discharged the obligations of the Sales Contract. If the Buyer does not fulfill his obligations, the Contract shall be terminated.

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