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.
Statement by the members of the Temporary Creditors’ Council
05. Feb 2018.
Following comments on the Extraordinary Administration procedure in Agrokor as reported in the media, the Temporary Creditors’ Council wishes to communicate:
Creditors of Agrokor have invested substantial funds in Agrokor and together with the Extraordinary Administrator and the engaged advisers of Agrokor they are focused on avoiding of the bankruptcy scenario and on recovery of highest possible portion of their claims.
Reaching of the settlement in the very short legally prescribed time frame presents our priority.
The Temporary Creditors’ Council does not support discussions that lead to the destabilization, prolongation or endangering of the Extraordinary Administration procedure, or that challenge reaching the settlement within the statutory deadline.
This process can be successfully brought to the end only by a constructive dialogue that takes place primarily among the creditors and our intention is to lead it together with the Extraordinary Administrator in such a way.
We appreciate the work of Extraordinary Administration and engaged local and international advisors whose results in the past ten months include stabilizing business and achieving Agrokor’s sustainability, significantly improving the liquidity of the system with positive effects on the entire market and maximizing job preservation in Croatia and the countries of the region.