ZAGREB (Croatia), January 12 (SeeNews) – Greece has filed a lawsuit against Croatia's state-owned development bank, Hrvatska banka za obnovu i razvitak (HBOR), seeking payment of collateral after a local shipyard, Montmontaza Greben, allegedly defaulted on its contract, Croatian media reported.
HBOR, which provided the collateral for a deal for the delivery of patrol boats between the Greeks and the local firm, says the suit is partially groundless, news agency Hina reported on Wednesday.
Other Croatian media report that the Greeks had ordered six patrol boats under a 13.3 million euro ($14.2 million) contract with Montmontaza Greben shipyard but received only two because Greece was late in making the necessary payments.
According to HBOR, it issued two collateral securities for the return of an advance payment and two more for the warranty period.
According to reports in Greek media, the boats were ordered by Greece's Coast Guard in 2014.
The case will be heard before a court in Piraeus in Greece.
($=0.9394 euro)