Ex-CEO Must Pay €51m to Laško Union

By , 22 Jan 2019, 14:20 PM Business
Ex-CEO Must Pay €51m to Laško Union pivovarnalaskounion.com

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STA, 22 January 2019 - Brewer Pivovarna Laško Union has won a damages suit against its former CEO Boško Šrot, with the latter being ordered to pay EUR 51m to its former employer, the news portal Siol reports.

The brewer's corporate affairs director, Tanja Subotić Levanič, could neither confirm nor deny the information when asked to comment by the STA.

According to Siol, the brewer has already applied for enforcement against Šrot and his family business Atka-Prima with the Celje District Court in a bid to seize his assets.

The beverage group, which was taken over by Heineken in 2015, brought a EUR 13.3m damages claim against Šrot in 2011 arguing damages incurred through the financing of his management buyout.

The Celje District Court found that Šrot was responsible for his actions early in 2016 after which Šrot unsuccessfully appealed with the Supreme Court.

He is currently serving a prison sentence of almost six years for abuse of power in the leveraged management buyout of the beverage group between 2008 and 2009.

Damages suits against Šrot have also been brought by the beverage group's subsidiaries that have since been sold, that is mineral water company Radenska, fruit drinks maker Fructal and newspaper publisher Delo.

Siol says that the companies would probably never get the damages awarded because the Šrot family has protected most of its assets from seizure, while seized assets would not even cover court costs.

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