Adora: BEG's statement is not correct

"Adora Engineering" through a public auction, for 9,3 million euros, bought the heating plants "East" and "West" and most of the remaining property of "Toplifikacija" AD / Photo: MIA

BEG's statement is incorrect in several respects. First of all, Adora did not buy the heating plants issued under lease, but in bankruptcy proceedings without any encumbrance and annotation in the title deed and in the purchase and sale decision. In addition, the contract for the lease of the heating plants has been officially canceled by the Decision of the Board of Creditors on 22.12.2021, Adora reacts.

- From then until today, the heating plants are used without a regulated relationship with the owner, Adora. BEG did not agree with this decision and started several court proceedings, some of which ended with final court decisions and were rejected as unfounded, and some BEG withdrew them, because it was clear that they would lose them. Regarding the claim that they were paying the lease, and Adora was returning the amounts, that is partly true, but the reason why those funds were not accepted by Adora is not because of the amount of the lease, but because of the basis of the payment. BEG paid that money by referring to an old Lease Agreement that had been cancelled, a fact confirmed by court decisions, whereby BEG illegitimately wanted to keep it alive. BEG now says it will repay Adora at some undefined future, which is not at all typical of operating as part of a regulated business, Adora said in response to the previous BEG announcement.

Adora emphasizes that if ESM takes over the regulated heat energy production, BEG will from that moment cease to have any income from the activity, which will contribute to the inability to pay the debt.


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