The Privatization Agency of Serbia has broken the contract with the buyer of Niš-based "Srbija-turist", "Uniworld Holding" owned by Srba Ilić, because it did not fulfill the obligations from the contract before the extended deadline.
The Agency accepted the value of investments of 430,000 USD and set the deadline of 90 days for the buyer to fulfill the remaining part of the investment obligations of 3.2m USD for year 2005. In mid-February 2006, the Agency informed the buyer on that and obliged it to deliver guarantee for its obligations in 2006 in amount of 1m USD.
Since the buyer did not fulfill the obligations within the deadline, the Agency broke the contract and that decision was greeted by the workers.
A member of the Striking Board, Tomislav Milanović, siad that the workers expected that the temporary manager would be appointed by the end of the week, which would mean the end of the strike that had started on December 27, 2005.
Let us remind that Ilić bought "Srbija-turist" in 2003 for 1.1 million USD and that he was supposed to invest, according to the contract, 9m USD within 3 years.
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