Doc. 8266
24 November 1998

Compensation for Croatian and Bosnian investors in the former Ljubljanska Banka AG, Slovenia

Motion for an order

presented by Mr Rudolf Bindig and others

This motion has not been discussed in the Assembly and commits only the members who have signed it

1.       The Assembly is aware that prior to the collapse of the Republic of Yugoslavia in 1991-92, many Bosnians, Croats and Serbs deposited their foreign-exchange savings with the Ljubljanska Banka AG, Ljubljana, Slovenia, and that these savers have had no access to their deposits since 1992 and no influence on where their deposits are kept.

2.       The Assembly is aware that the Ljubljanska Banka AG was split into two independent institutions on 27 July 1994:

—       the Nova Ljubljanska Banka AG which is supposed to have taken over the banking operations and the assets;

—        the "old" Ljubljanska Banka AG, which is supposedly charged merely with conducting the succession negotiations in respect of the joint assets and liabilities of the former Republic of Yugoslavia and is to be wound up following these negotiations.

3.       The Assembly notes that the Slovenian government intends to make the paying out of the above-mentioned foreign-exchange savings dependent on the settlement of the Piran question (and the issue of the Krsko nuclear power station) and all questions regarding succession which still have to be resolved.

4.       The Assembly is, however, aware that the Croatian Government has pointed out to the Slovenian Government that the liabilities of the Slovenian banking company vis-à-vis its Croatian investors are not the subject of succession negotiations.

5.       Moreover, the Assembly is aware that there are problems in Slovenia in this matter as regards effective legal protection vis-à-vis both the banks and the government. The Assembly has been informed that Slovenian lawyers have allegedly declined a brief to investigate the Nova Ljubljanska Banka AG.

6.       The Assembly

i.       notes that the claims of Croatian and Bosnian investors against the Ljubljanska Banka AG are justified;

ii.       informs the Slovenian Government that it fails to understand and regrets the latter's conduct towards the creditors and calls upon the Slovenian Government to ensure that the claimants obtain possession of their assets as soon as possible;

iii.       calls upon its Committee on Legal Affairs and Human Rights and its Committee on Economic Affairs and Development to appoint a rapporteur with the aim of establishing to what extent the aforementioned conduct is in breach of the obligations entered in to by Slovenia upon its accession to the Council of Europe and who as the legal successor has taken over the assets of the old Ljubljanska Banka AG;

iv.       calls upon the members of the Slovenian delegation to the Parliamentary Assembly to present this matter to their government as soon as possible and to seek a rapid solution in keeping with the obligations into which it entered upon accession;

Signed : ¹

Bindig, Germany, SOC

Antretter, Germany, SOC

Bühler, Germany, EPP/CD

Busic, Croatia, EPP/CD

Domljan, Croatia, EPP/CD

Elo, Finland, SOC

Erler, Germany, SOC

Haack, Germany, SOC

Hoffmann, Germany, SOC

Scheer, Germany, SOC

Schloten, Germany, SOC

¹        SOC: Socialist Group

      EPP/CD: Group of the European People’s Party

      EDG: European Democratic Group

      LDR : Liberal, Democratic and Reformers’ Group

      UEL: Group of the Unified European Left

      NR: not registered in a group