Business News

Intereuropa Sues Ex Managers for EUR 37.5m

Koper, 08 January (STA) - The management of shipping company Intereuropa filed at the Koper District Court on Friday a lawsuit claiming EUR 37.5m in damages against former CEO Andrej Lovsin and management board members Zvezdan Markezic and Ondina Jonke. The suit is related to controversial investments in Russia and Ukraine.

The lawsuit, which was endorsed at a shareholders meeting in September, is based on the report of an extraordinary audit of the company's books for the last five years, a press release from Intereuropa said.

Intereuropa is suing its entire former management board, while the management has not yet decided whether it would also take the supervisors to court or not.

The audit established a number of irregularities in the operations of company, the most serious being the scandal-plagued EUR 140.8m investment into the construction of a logistics hub near Moscow, which is considered to be the main reason for Lovsin getting sacked in March 2009.

Lovsin was officially dismissed for failing to meet business goals, exceeding his powers and violating his responsibilities.

The former CEO himself filed a lawsuit in July, claiming a compensation of EUR 300,000, which equals his income by the end of his term in January 2011 had he not been dismissed. The case has not yet made it to court, but Lovsin has said he is ready for dialogue with the company.

Former deputy chairman Zvezdan Markezic, who took over the management after Lovsin's dismissal, resigned when incumbent CEO Ernest Gortan and Marko Jazbec were appointed to the management board in June.

Former workers' director Ondina Jonke was meanwhile dismissed by the company's supervisors in July.

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