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Sajic Successful for Bitminer Factory Against UniCredit Bank

Sajic Successful for Bitminer Factory Against UniCredit Bank

Bosnia and Herzegovina
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Sajic has successfully represented the interests of Bitminer Factory against UniCredit Bank before the court of first instance.

According to Sajic, “the judgment obliges UniCredit Bank to pay compensation for the damage caused to Bitminer Factory d.o.o. Gradiska in the amount of approximately EUR 130 million.”

According to the firm, this is an important precedent because “this is the first time the court in Bosnia and Herzegovina has taken a clear position on this type of matter. Through the procedure, it was proven that the actions undertaken by the Bank directly influenced the failure of the ICO project based on blockchain technology, and then consequently it caused damage to the company.”

As Sajic reports, “the plan of the project was to produce electricity through renewable energy sources, which would be partly sold to a partner company for cryptocurrency mining, while part would go to the electricity grid. That is exactly why the project needed investors who would purchase digital tokens in order to participate in the project, through an account opened in Unicredit Bank in Banja Luka. However, as soon as the first payments were received in the account, the Bank decided to return the money, justifying it that they could not do business with companies that deal with cryptocurrencies and terminated the contract with the company. During the procedure, it was proven that the damage was caused to the company, and the company's claim was accepted by the court.”

Sajic’s team included Managing Partner Aleksandar Sajic and Senior Associates Milica Karadza and Tijana Tatic.