Viaduct company submits payment order, BiH Treasury faces 7-day deadline

Sources confirm that Viaduct has delivered banking details for the transfer of the debt awarded by the International Centre for Settlement of Investment Disputes (ICSID) in Washington. The account is registered with Bank of America.

Notably, Schmidt’s decision specified that the compensation, which exceeds 110 million Bosnian marks (approximately €56.2 million), will be paid from toll revenues previously allocated to the Republika Srpska entity.

The account provided by Viaduct is currently undergoing verification by the Office of the Attorney General of Bosnia and Herzegovina and the Central Bank of Bosnia and Herzegovina. Authorities from Republika Srpska have raised concerns over the account, claiming it is problematic because it is allegedly associated with the Channel Islands. However, the request was signed by a certified financial expert, which, according to legal sources, should mitigate concerns over potential fraud.

It is important to highlight that Bank of America, while headquartered in the United States, operates in 40 countries and is considered one of the most reputable financial institutions globally.

With the official payment order now submitted, BiH Minister of Finance and Treasury Srdjan Amidzic from the Alliance of Independent Social Democrats (SNSD) has a legal deadline of seven days, until Friday, to sign the transfer order. However, given his previous public opposition to the payment, as well as similar resistance voiced by other Republika Srpska political leaders, it is increasingly likely he will refuse to act.

In anticipation of such an outcome, Schmidt included a contingency clause in his decision: if the Minister fails to act within the specified period, the authority to authorise the transaction will automatically transfer to his deputy, Muhamed Hasanovic from the Social Democratic Party (SDP).

The arbitration ruling awarded Viaduct 120 million marks (approximately €61.3 million), and Schmidt’s decision explicitly instructed that the funds be deducted from a toll revenue account earmarked for Republika Srpska.

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