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“Refugee” Companies to be Liquidated

Republic of Srpska Government and the Investment-Development Bank (IRB) RS are planning to launch a process of liquidation of around 50 companies listed for privatization which have not been operating for years. Most of them are so-called "refugee" companies whose assets were transferred from war areas to other local communities, where they were registered, but never started operating.

The companies are listed as state-owned, but they cannot be sold. The only solution is to initiate bankruptcy or liquidation procedures and remove them from court register. The closing down of dead companies is a part of the Government plan to regulate the status of 175 companies included in the portfolio of RS Share Fund, managed by IRB.