Provisional Administrator supports OHR and SFOR action in Herzegovacka Banka

The Provisional Administrator of Hercegovacka Banka, Toby Robinson, is grateful that records and documents from the main branch of the Herzegovacka Banka in Mostar have been made available to her following the successful OHR and SFOR action early this morning.

Last Friday, she both publicly and privately requested meetings with the bankąs suspended director, Ivica Karlovic, and the chairman of the assembly of shareholders, Jozo Maric, in order to gain access to the bankąs records. She regrets that the representatives of Herzegovacka Banka rejected a meeting, choosing instead not to co-operate with the Provisional Administration. Last nightąs action was unavoidable as the refusal to co-operate would have prolonged the agony of thousands of legitimate private and public account holders. The owners are also risking damage to their own stakes in the bank.

The lack of co-operation by the bankąs suspended management and owners means that even with the information collected, much more time will be needed to gain a clear idea of the bankąs status.

Under the Decision of the High Representative and according to the banking laws of the Federation, the Administrator has full authority over the bank. Only the legally appointed Provisional Administrator can move things forward, which is conditional on her full and unrestricted access to the bank and its records.

“This document is not an official OHR text, and therefore does not necessarily reflect the views of the OHR. It has been published for information only, and responsibility lies with the originating organisation.”