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.

High Commercial Court rejected the appeal from Sberbank of Russia

The High Commercial Court of the Republic of Croatia rejected the appeal from Sberbank of Russia in its ruling of 1 March 2018. It found the appeal against the resolution of the Commercial Court of 23 November 2017 to be unfounded.

The matter concerned the application of Sberbank to have the Commercial Court declare null and void the Decision of the Interim Creditors’ Council of 31 August 2017 whereby the Extraordinary Commissioner received approval to perform payments of claims which became due prior to the opening of the Extraordinary Administration proceeding.

The Commercial Court rejected/dismissed that Sberbank’s application and now the High Commercial Court has confirmed that first instance decision.

In its statement of reasons the High Commercial Court has found that the ruling of the Commercial Court has no deficiencies and that the first instance court has properly applied material law pursuant to the Act on the Extraordinary Administration proceeding in companies with systemic importance for the Republic of Croatia.

Other news

Agrokor
Extraordinary Administration Procedure closed, Agrokor erased from Court Registry
13. Oct 2022.
Pursuant to the published final ruling of the Commercial Court of Zagreb, the Extraordinary Administration Procedure in Agrokor has been closed and Agrokor d.d. has been erased from the Court Registry. With its Ruling dated 19th July 2022 the Commercial Court of Zagreb has established that with the legally effective amalgamation of 46 non-viable companies…
Agrokor
NOTICE TO AGROKOR’S IMPAIRED CREDITORS WHO FAILED TO SUBMIT KYC FORM: The cancellation of Strips of New Instruments
07. Apr 2020.
We make reference to the Settlement Plan of Agrokor d.d. et al as confirmed by the Commercial Court of Zagreb on July 6th 2018. Impaired Creditors who were entitled to receive the New Instruments under the Settlement Plan, i.e. New Instruments Beneficiaries, were according to the Article 19.2.3 of the Settlement Plan obliged to submit…
Agrokor
IMPORTANT NOTICE TO AGROKOR’S IMPAIRED CREDITORS: Instructions to receive the New Instruments
18. Mar 2020.
We make reference to the Settlement Plan of Agrokor d.d. et al as confirmed by the Commercial Court of Zagreb on 6 July 2018. In order to receive the New Instruments in accordance with the Settlement Plan, all Impaired Creditors who are entitled to receive the New Instruments under the Settlement Plan must validly complete…