Insight view

THE COUNTRY: ECONOMIC POLICY
Real Estate Administration, had information on what was going on in the regional unit of land registry
in Ulcinj. Even though the seventh credit was taken on account of public property, Orlandic did not undertake
any measures in order to prevent abuse of the law and the jeopardizing of public property.
Recently, nongovernmental organization Network for Affirmation of Nongovernmental Sector (MANS)
filed criminal charges against Orlandić and Dževdet Čaprići, current head of the land-registry, function
he has performed since 2002, when he became a member of the Municipal Board and Executive
Board of the ruling Democratic Socialist Party (DPS) for Ulcinj; Jelica Petričević, former Deputy of Director
General of Prva banka CG, Dragan Đuranović, employees at Crnogorska komercijalna banka
(CKB); and Veselin Barović, Bojša Šotra, Zijad Blekić, Bećir Perazić, and Vlatko Aprcović, founders of
companies Flash and Absolute. In a period between 2005 and the middle of 2008, mentioned persons
signed or facilitated signing of several harmful loan contracts where the state property has been
illegally used as collateral. Worthy of note, this state-owned property has been assigned to „Bajo
Sekulić“ company for use only, not placed under its ownership.
According to the report of the European Commission, opening of Chapter 27 depends on how the
Government of Montenegro will treat the protection of Ulcinj Salina. They indicate, on the fact that
Salina should be revitalized, that the production of salt was the only purpose of this area and the
only sustainable protection, the protection of European biodiversity.
2000 Value of Salina Bajo Sekulić was 110.3 million of Deutsche marks or 55 million euros.
2005
2005 - 2006
2005 - 2009
2007 - 2008
2012
2014
2015
Eurofond (Veselin Barović) bought an initial package of shares for almost 800,000 euros,
and the process of systematic demolition through harmful business moves and credit loans.
On behalf of Salina, three credits were taken from CKB, with the total value of more than
500,000 euros.
Several allotments of company shares took place after which the share of Eurofond increased
to 75% with overall income of almost 6 million euros – this income was not used for investments
but was spent inappropriately. New owners put almost all property of the company
under the mortgage, including the land over which they do not have right to ownership.
Contracts on placing the public property under mortgage for four more credits from Prva
Banka, worth 4.7 million euros, were signed. Credit contracts and mortgage contracts
were verified by Ulcinj land-registry without problems.
First advertisement for sale was published in January. Property of Salina was offered for
the initial price of almost 257 million euros.
After 80 years of active work, Salina stopped the production of salt and 450 to 600 job
positions were abolished.
The last advertisement for sale was published, to which no one responded. Salina was offered
for 149 million euros.
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