03/08/1998
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Gazeta Shqiptare

3 August 1998

The companies have no money left

The secrets of five pyramid schemes in figures: They cannot pay their debts The companies have no money left Contents of the foreigners’ confidential report Recommendations by “Deloitte & Touche”: Alimuçaj and Cenaj should leave There will be no repayments to creditors during 1998. All properties will be sold within a period of three to 24 months. The ferry and ships will be sold by VEFA; everything by Cenaj. Silva’s properties will not be sold, and Shenaj will remain co-director of the company. TIRANA - All five loss-making companies are bankrupt. The “Deloitte & Touche” report, one month after being submitted to the Government, is being made public. For the creditors of VEFA, Silva, Kamberi, Cenaj and M. Leka, the prospects of recovering their money are far smaller than the amounts they deposited with the companies. No repayment to creditors by the foreign administrators is envisaged during ’98; this period will serve them to manage the profitable businesses and find potential buyers for the companies’ properties, which in reality belong to the creditors. All the companies’ properties will be sold, except Silva’s. What will change is the timeline, which will range from a minimum of 3 months to 2 years. Immediate sale is proposed for VEFA’s ferries and for CENAJ’s properties, except for the shampoo factory, which will remain. Meanwhile, the owners of the companies, who are no longer their owners, must leave them, with the exception of Shenaj. Alimuçaj must definitely leave VEFA, as must Cenaj, while the conditions for Kamberi are somewhat more favourable. Deloitte & Touche’s administrators consider Pëllumb Shenaj’s presence necessary for the creditors. Mustafa Leka, meanwhile, will be offered a job at his cognac factory as manager. Properties: What will be sold and what will be kept. TIRANA - All the companies’ properties will be sold, but some will be sold sooner and others in a later phase. The foreign administrators will manage and administer those properties considered profitable, while they will try to find buyers for the others. Everything that is not being used in the companies’ operations will be sold. For example, in the case of VEFA, the assessment is that all the ships should be sold within six months. The value of VEFA’s operating activities is 1 billion lekë, while that of its non-operating activities is 2.5 billion lekë. With the ministers PS turns its attention to Shkodra TIRANA - PS heads towards ... A sudden decision PD will return to Parliament

War in Kosovo: 7 dead

AFTER THE KILLING OF TWO SERBIAN POLICEMEN War in Kosovo: 7 dead Serbs kill five Albanians TIRANA - Violence and deaths in Kosovo. Drenica has also become the scene of the killing of two Serbian policemen by an unknown hand. But yesterday, Serbian forces did not hesitate to cold-bloodedly kill five more Albanians in retaliation. The situation remains explosive, late into yesterday evening. It is not known whether there will be further developments in Drenica and the surrounding villages. The clash between Albanians and Serbian security forces began on Friday evening. The shooting continued ... [the lower part of the text in this column is cut off/unclear] More than one incident took place overnight in the village of Skënderaj and then in other villages around Drenica. Meanwhile, Saturday morning brought news that two Serbian policemen had been killed by an unknown hand. This was enough for the Serbs to cold-bloodedly kill five Albanians from Drenica in retaliation. According to unconfirmed and contradictory sources, the situation remained tense throughout yesterday as well. Police reinforcements were moved from Prishtina towards Drenica and its surroundings. Meanwhile, at the roadblocks on the Pejë–Prishtinë road, police officers at various checkpoints brutally beat Albanian travellers for no reason. According to reports arriving from these areas, the situation remained explosive late yesterday. In any case, various political forces in Kosovo have called for calm and urged people not to fall for Serbian provocations. But it is difficult for the situation to calm down soon. Sources from Kosovo’s information centre say that troop movements are ... [cut off/unclear] towards the villages of Drenica and its surroundings. In light of the latest developments in recent days, it therefore seems difficult to predict how events will unfold in the coming days. Nevertheless, reports from Kosovo describe an extremely grave situation and grim prospects. It is not known whether the Albanians will retaliate for those shot and killed by Serbian forces. But if that happens, another Serbian reprisal is also expected.

Elbasan, referees brutally beaten

WEEK XXI Elbasan, referees brutally beaten SHKODËR Vllaznia “wins” without playing The crisis at Tirana is back. The Whites and Blues have ...

PS turns its attention to Shkodra

TIRANA - PS is heading towards Shkodra. A team of socialist ministers will travel tomorrow to the large city, looted a week ago. The decision was made two days ago during a meeting of the Party’s General Committee. “To see the situation up close and come up with a swift solution,” was the message at the meeting of PS leaders. Arben Malaj, Arta Dade, Lush Përpali and Legisi will be the socialist ministers expected to assess the damage caused a week ago in the northern city. On page 2

PD will return to Parliament

TIRANA - PD is expected to end its boycott of the Albanian legislature. “We hope they won’t all shut the door on us,” Genc Pollo, one of the most senior Democratic leaders, told Gazeta Shqiptare. Ritvan Bode and Willy Minarolli, who had opposed Parliament a week ago, had also expressed support for entering Parliament. “They misunderstood us; we are not against Parliament,” Bode and Minarolli told the newspaper yesterday. It seems that positions within the leadership have changed following pressure from the international community. On page 3

“wins” without playing

... the title. Dedja from Shkodra, speaking on the radio, said he was pleased with the results of the matches. “This week worked in our favour.” On pages 10–11

Meidani at the site of the bombs

GJIROKASTËR Meidani at the site of the bombs On page 2

What happened a year ago in the city of unrest

VLORË What happened a year ago in the city of unrest On page 9

He was going to work; abducted by strangers

KORÇË He was going to work; abducted by strangers On page 9

Government: The weekend now lasts only one day

EMPLOYEES WILL ALSO WORK ON SATURDAYS TIRANË - Saturday is once again a working day. Employees of all government departments are, of course, required—notwithstanding the paragraph now also every weekend—in the offices and cafés of the departments. A decision by the Prime Minister thus brings back the dreary working Saturday. For two weeks now, all the state’s central departments have been working from 8 a.m. to 1 p.m. every Saturday. But it seems that more than work, people drink coffee and discuss the political and social events of the week that has ended. Journalists seem to be the happiest of all about this government decision. Now, at any rate, someone will be found in the central departments to speak even on Sunday, once a day when there was no news, and on the European Saturday of civil servants. [Unclear text?] the weekend break. A recent decision by Nano has brought back to the departments... [section cut off/unclear] ... during the first years of the paradise of weekend breaks, Albanian civil servants came very close to their European counterparts, with the sole difference that Saturday remained, for them, a dead day and even rather boring, because of the lack of imagination in the ways of spending the time off, as well as the necessary infrastructure to make a day like that more enjoyable. In any case, with or without imagination, Saturday off became a sacred day for women within five years. They have, after all, not infrequently said—though unofficially—that Saturday should be a working day, but only for their husbands. Five years later, Nano brings back the communist Saturday, ordering department doors to remain open for just five hours. Meanwhile, working hours on other days will be shortened by one hour. E.Xh. The text continues on the article page; some lines are unclear in the image. The photograph shows the entrance to a building and a person at the door.

Today: Gazette TV

The week’s programs and personalities GAZETTE TV Madonna: Angel or demon? On pages 5–8