The process of reaching a settlement under the extraordinary administration procedure of Agrokor is one of the most complex in Croatia and in Europe due to the complexities of Agrokor as a business and the total amount of the debt as well as the large number of creditors, 5.700 of them. This section contains all the news on the process of reaching of a settlement for all the key stakeholders, as well as the latest details and developments.
Invitation to creditors
01. Feb 2018.
Agrokor d.d.
Marijana Čavića 1
10000 ZAGREB
EXTRAORDINARY COMMISSIONER
INVITIATION TO CREDITORS
By the order of the Commercial Court of Zagreb of 15 January 2018, file no. 47. St-1138/17, under item I of the dispositive part, claims of creditors of the second higher payment priority ranking in the Extraordinary Administration Proceeding against the debtor AGROKOR d.d., Zagreb, Marijana Čavića 1, PIN: 05937759187 and certain of its controlled and affiliated companies, have been determined, and by the order and ruling of the same court, of 26 January 2018, file no. 47. St-1138/17-1932, the number of members of the creditors’ council has been determined, creditors have been classified into groups pursuant to the proposal of the Extraordinary Commissioner and the Extraordinary Commissioner has been instructed to invite creditors to elect members of the creditors’ council.
Complying with the aforementioned Ruling and the provision of Article 30, para. 1 of the Law on Extraordinary Administration Proceeding in Companies of Systemic Importance for the Republic of Croatia (“Law”), the Extraordinary Commissioner hereby
i n v i t e s
creditors whose claims have been determined to notify the Extraordinary Commissioner and the court of their elected members of the creditors’ council within 30 days.
The creditors’ council shall consist of 5 members. The creditors have been classified into the following five groups:
- GROUP A – creditors whose claims are secured by a right to separate satisfaction (creditors with a right to separate satisfaction).
- GROUP B – creditors who are bondholders of bonds issued by the debtor and in whose favour guarantees have been issued / co-debtorship exists, in both cases by at least five of the debtor’s affiliated and/or controlled companies which are in the Extraordinary Administration Proceeding.
- GROUP C – creditors (a) with claims which occurred prior to the opening of the Extraordinary Administration Proceeding, (b) in whose favour guarantees have been issued / co-debtorship exists / recourse debtorship exists, in each case by at least five of the debtor’s affiliated and/or controlled companies which are in the Extraordinary Administration Proceeding and (c) who have participated in super-priority financing of the debtor on the basis of the EUR up to 1,060,000,000 Super-Priority Term Facilities Agreement of 8 June 2017.
- GROUP D – creditors (a) in whose favour guarantees have been issued / co-debtorship exists / recourse debtorship exists, in each case by at least five of the debtor’s affiliated and/or controlled companies which are in the Extraordinary Administration Proceeding and (b) who have not participated in super-priority financing of the debtor on the basis of the EUR up to 1,060,000,000 Super-Priority Term Facilities Agreement of 8 June 2017.
- GROUP E – creditors (including suppliers) in whose favour neither guarantees have been issued nor does co-debtorship or recourse debtorship exist, in each case by at least five of the debtor’s affiliated and/or controlled companies which are in the Extraordinary Administration Proceeding.
The table of creditors classified into groups has been published on the courts’ e-Bulletin board on 26 January 2018.
The recommended form of power of attorney for the election of members of the creditors’ council for individual groups may be found at the bottom of this invitation.
Extraordinary Commissioner
Agrokor d.d.
Punomoć za Vjerovničko vijeće_Power of Attorney for Election of PCC Members