Croatia News - CroatiaPress.com

Zagreb, March 23 (CP) – Due to disputed contracts from the past Croatia may be looking at paying some € 250 million in damages.

Over the years Croatia has had a number of disputes when contracts for certain services agreed were broken off and two court cases are to end any day now with Croatia possibly having to pay up some €70 million.

Namely, the central bank account is to have finances repossessed from it in the amount of at least €37 million in the dispute with the Italian Astaldi construction company regarding the building of the Zagreb-Gorican motorway, when Astaldi in 1999 broke the construction contract claiming the Croatian government was to blame for the finances not being secured. The job was done by the Croatian army led by Ljubo Cesic Rojs.

Despite Croatia’s efforts to make the court cases at the arbitration court in Vienna go its way, the effort failed and the money will have to be paid to Astaldi.

Last week, it was announced that Croatia would have to pay some €40 million in damages to Hypo Alpe Adria Group for misleading it in the sale of Slavonska Banka, but the two sides might find a solution in talks scheduled for next week.