Bankruptcy of the Bosnian K-UNI triggers an international avalanche of litigation

2023-09-28 16:49:05

Carinthian plastics manufacturer KP TEC has shares in the K-UNI Group executed in Germany, Croatia, BiH and Lithuania

Feistritz/Drau (OTS) – The reason for the cross-border execution applications is a judgment of the Higher Commercial Court in Banja Luka, Bosnia and Herzegovina, from December 2022, in which the defendant parent companies of K-UNI doo, Villacher AF TEC Beteiligungs GmbH and K-UNI Kunststoffproduktions- und Handels GmbH, were granted had been sentenced to pay joint and several damages in the amount of 1,943,686.56 euros and to reimburse procedural costs in the amount of 23,336.01 euros – but have not fulfilled this obligation to date.

The plaintiff was the Bosnian I-TEH doo, a subsidiary of the Carinthian plastic profile manufacturer KP-TEC, represented by lawyer Rašid Haračić, Sarajevo.

The claim arose according to the reasons for the judgment “due to the negligent actions of the defendants and abuse of the legal entities” in the Bosnian K-UNI doo, which went bankrupt in 2018 and has now been officially deleted from the commercial register.

Due to the final judgment, KP-TEC – via its affected subsidiary – has initiated recognition proceedings and/or execution proceedings against AF TEC Beteiligungs GmbH and K-UNI Kunststoffproduktions- und Handels GmbH in Germany, Croatia, Bosnia and Herzegovina and Lithuania.

“Since the opposing party, which belongs to the Franz Olbrich Group, has stubbornly ignored any offer of an out-of-court settlement, we are forced to continue legal proceedings at the international level in order to be able to collect the claim awarded to us by the court,” says the legal representative of KP-TEC , Rašid Haračić, determined.