PM Plenkovic expects restructuring, settlement from emergency administration in Agrokor

Photo /Vijesti/2017/10 listopad/12 listopad/60 sjednica VRH/PVRH.jpg

Prime Minister Andrej Plenkovic said on Thursday that after the release of audit reports he expected the emergency administration in Agrokor to continue the restructuring of the retail and food group in cooperation with creditors and a settlement to be reached.

Speaking at a cabinet session, he said the books and the real state of affairs had revealed the depth of the problems in the group. It was necessary to hire one of the world's leading audit companies to disclose the real state of affairs, he added.

The law on emergency administration in companies of systemic importance is a reform in itself which will mark "this purifying, transformative moment" of how to do business in the Croatian economy, and that's its greatest value, Plenkovic said.

We must also not forget that the law and the emergency administration in Agrokor prevented a negative effect on the economy, the financial system, suppliers, and the stability of the work of companies in neighbouring countries, he added.

Plenkovic said he expected the emergency administration and the creditors to reach a settlement that would enable sustainable business, keeping jobs, and the stability and functioning of the Croatian economy.

"That's why we intervened, what guides us - the common good and the public interest," he said, adding that the government did not and would not interfere in the work of the judiciary.

Text: Hina