COURT RULES IN FAVOR OF ISTOČNO SARAJEVO'S SARAJEVO-GAS IN ENERGOINVEST OF SARAJEVO DISPUTE

ISTOČNO SARAJEVO, SEPTEMBER 10 /SRNA/ - The Higher Commercial Court in Banja Luka has ruled that Sarajevo-gas of Istočno Sarajevo acted lawfully and in line with the terms of its agreement with Energoinvest.

Sarajevo-gas said the court found that the contract was not invalid, as Energoinvest had claimed, simply because the Republika Srpska Regulatory Commission had not approved the agreed price at the time the contract was signed.

The court also found that any potential irregularities should have first been determined by the Republika Srpska Regulatory Commission, rather than by the courts.

The final ruling overturned a first-instance judgment by the District Commercial Court in Istočno Sarajevo that had ruled against Sarajevo-gas and in favor of Sarajevo-based Energoinvest, ordering the payment of BAM 2.2 million.

In April this year, the District Commercial Court in Istočno Sarajevo ruled in favor of Energoinvest in a legal dispute against Sarajevo-gas of Istočno Sarajevo, ordering the defendant to pay approximately BAM 3 million, along with more than BAM 180,000 in litigation costs.