High Representative Extends Toby Robinson’s Mandate as PBSS Liquidator

The High Representative, Christian Schwarz-Schilling, yesterday extended Toby Robinson’s mandate as liquidator of Privredna Banka Srpsko Sarajevo (PBSS) to 30 September.

The High Representative appointed Toby Robinson as liquidator of the PBSS on21 June 2006. According to that Decision, Ms Robinson’s mandate was due to expire on 31 August 2006.

Earlier this month the RS Banking Agency wrote to the High Representative explaining that the hearing for the examination of claims received against PBSS was scheduled for 19 September 2006, and asking him to extend Ms Robinson’s mandate.

“Toby Robinson has shown she can tackle tackled complex financial crimes in cases where the level of intimidation has been so severe that it has prevented the appropriate domestic authorities from dealing with the issue,” the High Representative said. “I have extended her mandate to ensure that she can see this job through to the end.”

Ms Robinson has worked in Bosnia and Herzegovina for more than five years as provisional administrator of both Hercegovačka Banka and Privredna Banka Srpsko Sarajevo.

The PBSS was placed under provisional administration by the RS Banking Agency on 20 June 2003.

The provisional administrator appointed by the RS Banking Agency resigned in May 2004 following a physical assault. This led to Ms Robinson’s appointment as provisional administrator for the PBSS by a Decision of the High Representative on 8 June 2004.

On 12 May 2006, the Basic Court of Bijeljina decided to withdraw the PBSS from bankruptcy proceedings, and the bank’s liquidation process began.

The High Representative appointed Toby Robinson as liquidator on 21 June 2006 following a request from the RS Banking Agency.