Agrokor advisory board says emergency administration going in good direction

The emergency administration procedure in Agrokor is going in a good direction and conditions have been created for the emergency administration to focus now on drafting a settlement agreement for creditors to decide upon, an advisory board in the emergency administration procedure in the ailing Agrokor food and retail conglomerate concluded on Thursday.

The Ministry of Economy, Entrepreneurship and Crafts published the advisory board's conclusions in a press release after a meeting of the board.

The press release notes that the advisory board met at the request of Deputy Prime Minister and Minister of Economy Martina Dalic to discuss a monthly report on the Agrokor emergency administration for the period from 11 October to 10 November with a sustainability plan, as well as the corporation's financial statements audited by PricewaterhouseCoopers (Pwc) and registered claims.

The meeting also discussed the current economic and financial situation in Agrokor as well as the implementation of all of the emergency administration's measures.

"Members of the Advisory Board agreed that the implementation of the Law on Emergency Administration in Systemic Companies has removed the systemic risk of a possible uncontrolled collapse of this large company... while maintaining the stability of business operations and preserving jobs," the ministry's press release said.

Text: Hina

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