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Privatization of the hotels in Belgrade - nobody consults the successors

Novosti

(13/11/2001)

On the initiative for privatization of eight Belgrade hotels, the comment of the lawyer, Djurdje Ninkovic, one of the successors of former owners of Astoria Hotel, was that it is obvious that Government is in a hurry because the most likely the Decision on the sale will be made immediately after the New Year. Since the Republic Government promised to effect 5% of the price of the sold building to a special fund out of which those whose property had been nationalized would be paid off, it is not clear why they are in such a hurry if most of the hotels have had former owners. It is suspected that this is maybe only a maneuver in which the price of the hotel is different from the one former owners should be paid and that it is about a fraud, because if the Government sells the hotel for the same price that would be returned to the owner in one or two years, the question is why they do all this. It is expected that former owners will bring numerous charges, which will probably force foreign investors to hesitate.




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