February 1 (SeeNews) - A court in Zagreb turned down a motion by Serbian state-owned lender Jugobanka seeking nearly 21 million euro ($24 million) and 2.6 million Swiss francs (2.2 million euro) in debt from Croatia, Zagreb-based media reported on Friday.
Jugobanka claimed that the funds represent loans used between 1985 and 1989 by Croatia's shipyard 3. Maj, clothing company Varteks and tobacco company Duhan, which Serbia has repaid to the Paris Club, news agency Hina reported.
According to Article 22 of Serbia's Banking Law, the banks are obliged to have a capital not lower than the dinar equivalent of 10 million euro.
(1 euro = 118.422 dinars)