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In the exercise of the powers vested in me by Article V of
Annex 10 (Agreement on Civilian Implementation of the Peace Settlement) to the
General Framework Agreement for Peace in Bosnia and Herzegovina, according to
which the High Representative is the final authority in theatre regarding
interpretation of the said Agreement on the Civilian Implementation of the Peace
Settlement; and considering in particular Article II.1.(d) of the last said
Agreement, according to the terms of which the High Representative shall
“Facilitate, as the High Representative judges necessary, the resolution of any
difficulties arising in connection with civilian implementation”;
Recalling paragraph XI.2 of the Conclusions of the Peace
Implementation Conference held in Bonn on 9 and 10 December 1997, in which the
Peace Implementation Council welcomed the High Representative’s intention to use
his final authority in theatre regarding interpretation of the Agreement on the
Civilian Implementation of the Peace Settlement in order to facilitate the
resolution of any difficulties as aforesaid “by making binding decisions, as he
judges necessary” on certain issues including (under sub-paragraph (c) thereof)
“measures to ensure implementation of the Peace Agreement throughout Bosnia and
Herzegovina and its Entities”;
Observing the importance that the international
community attaches to the proper administration of the banking system of Bosnia
and Herzegovina
as an integral part of the peace
implementation process;
Noting, by way of example of the said attachment, the welcome
given by the Peace Implementation Council at the Conference held in London on
4-5 December 1996 to the commitment of the authorities in Bosnia and Herzegovina
to pass laws in fields that include banking; further noting paragraph 44 a) of
the Declaration of the Ministerial Meeting of the Steering Board of the said
Council held in Luxembourg on 9 June 1998 in which the Board observed that new
banking legislation should be adopted in both Entities; still further noting the
call to the authorities in Bosnia and Herzegovina made by the said Council at
its meeting in Brussels on 23-24 May 2000, for the said authorities to harmonize
country-wide their approach in a number of areas including banking;
Recalling that the “Privredna Banka a.d Srpsko Sarajevo” was
placed under provisional administration by a decision of the Banking Agency of
Republika Srpska dated 20 June 2003;
Mindful of the resignation of the Provisional Administrator
appointed by the Banking Agency of Republika Srpska in May 2004 following an
assault and battery perpetrated against his person, and of the appointment of a
Provisional Administrator for “Privredna Banka a.d. Srpsko Sarajevo” by decision
of the High Representative on 8 June 2004;
Further noting the decision of the High Representative of
7 November
2004 , pursuant to
which the banking license of “Privredna Banka a.d. Srpsko Sarajevo” was revoked
and in accordance to with the Provisional Administrator commenced bankruptcy
proceedings;
Recalling the report of the Provisional Administrator of
“Privredna Banka a.d. Srpsko Sarajevo”, dated 8 May 2006, in which she informed
the Banking Agency of Republika Srpska and the High Representative that, due to
the sale of property acquired by “Privredna Banka a.d. Srpsko Sarajevo” and due
to the accumulation of substantial funds through the collection of outstanding
debts, “Privredna Banka a.d. Srpsko Sarajevo” was in a solvent position as of 30
April 2006, and in which the Provisional Administrator recommended liquidation
of “Privredna Banka a.d. Srpsko Sarajevo”;
Further recalling the 12 May 2006 decision of the Basic Court
of Bijeljina, which, upon the petition of the Provisional Administrator and in
light of the solvent position of the bank, withdrew “Privredna Banka a.d. Srpsko
Sarajevo” from bankruptcy proceedings;
Mindful of the Decision of the High Representative of 21 June
2006, according to which liquidation proceedings were instituted for “Privredna
Banka a.d. Srpsko Sarajevo”, and which, upon the written requests of the Banking
Agency of Republika Srpska dated 12 and 19 May 2006, appointed a Liquidation
Receiver for said bank;
Further mindful of previous difficulties encountered by Banking
Agency of Republika Srpska in the appointment, retention and replacement of a
Provisional Administrator for “Privredna Banka a.d. Srpsko Sarajevo” that
culminated in the Decision of the Management Board of the said Agency to solicit
the aforementioned intervention of the High Representative, and that, in
accordance with the terms of the aforementioned Decision of the High
Representative, the mandate of the Liquidation Receiver of “Privredna Banka a.d.
Srpsko Sarajevo” expires on 31 August 2006;
Considering the written request of the Banking Agency of
Republika Srpska dated 14 August 2006, in which the said agency states that a
hearing for the examination of claims received against “Privredna Banka a.d.
Srpsko Sarajevo” is scheduled for 19 September 2006, and that the Banking Agency
of Republika Srpska has not been able and will not be able to appoint a new
Liquidation Receiver for “Privredna Banka a.d. Srpsko Sarajevo” prior to the
said hearing, and, on that basis, requested the High Representative to
accordingly extend the mandate of the Liquidation Receiver of the “Privredna
Banka a.d. Srpsko Sarajevo”;
Ever conscious of the need to ensure that the liquidation of
“Privredna Banka a.d. Srpsko Sarajevo” can proceed efficiently, free from
illegitimate outside interference;
Having taken into account and considered the
totality of the matters aforesaid I hereby make and issue the following:
DECISION
Extending the mandate of the Liquidation Receiver for
“Privredna Banka a.d. Srpsko Sarajevo”
Article 1
This Decision herewith extends the mandate of Ms. Toby Robinson as
Liquidation Receiver of “Privredna Banka a.d. Srpsko Sarajevo” appointed by the
Decision of the High Representative No. 17/06 of 21 June 2006. The mandate of the Liquidation Receiver
shall terminate on 30th September 2006 .
Article 2
Ms. Toby Robinson shall continue to operate as Liquidation Receiver under the
same conditions as established and defined in the Decision of the High
Representative No. 17/06 of 21 June 2006 on Instituting the liquidation
proceedings and appointing a Liquidation Receiver for the “Privredna Banka a.d.
Srpsko Sarajevo”.
Article 3
For the avoidance of doubt, it is hereby specifically declared and provided
that the provisions of the Decision contained herein are, as each and every one
of them, laid down by the High Representative pursuant to his international
mandate and are not, therefore, justiciable by the Courts of Bosnia and
Herzegovina or its Entities or elsewhere, and no proceedings may be brought in
respect of duties carried out thereunder before any court whatsoever at any time
hereafter.
Article 4
This Decision shall enter into force forthwith and shall be published without
delay in the Official Gazette of Republika Srpska.
Sarajevo, 30 August 2006
Dr. Christian Schwarz-Schilling
High Representative
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