NELT: New larceny in Belgrade Waterfront project

“Although disguised as expropriation, the forcible possession of our property is, in all actuality, a seizure of our property because we did not receive any compensation for it, and it has been done to the benefit of other legal entity under the pretense of public interest – the NELT Company says.

The company has revealed that their warehouse, which was located on the grounds of the new Belgrade Waterfront project, was confiscated. The facility is in Travnicka Street, it was seized on Friday, 9th June, and is currently being demolished.

The explanation that the company got was that the lex specialis, passed on the back of the Law on Public Interest and the special expropriation procedures relating to the Belgrade Waterfront project, was adopted by the Serbian government at the time when the government was the only beneficiary of the expropriation and the only founder and owner of the Belgrade Waterfront project which was, back then, a 100% state-run project. At the time when the NELT Company received the decision on the expropriation of its property, which was after 21st August, 2015, the Serbian government was a minority shareholder in the project, with a 32% share, and hence had no say in the matter.

The authorities say that everything that was done after the said date was decided by the BWCI Company from the United Arab Emirates which is the majority owner of the Belgrade Waterfront Company.

“We would like to warn the public that this is the case of seizure of our property without us receiving any compensation by the state authorities which just shows that we still live in a time that we thought was long gone, and that private property rights are not incorporated into our country’s legal foundation”, NELT’s press release reads.

NELT is engaged in distribution of products, logistics and marketing, and is the proprietor of the Neoplanta meat company and the Javna Skladista Subotica Company (Public Warehouses Subotica). It was founded 25 years ago, and has 1,700 employees.

(Newsweek, 12.06.2017)


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