After keeping silent for months, majority owner of Agrokor Ivica Todorić has issued a public statement.
Ivica Todorić, the owner of Agrokor, Croatia’s largest privately-owned company whose management has been taken over by the government in April, after it came to the brink of collapse, published a first public statement in months, announcing legal proceedings against the state. He argues that he activated provisions of “Lex Agrokor” under pressure and announced legal steps in the country and abroad. He accused the government of nationalisation, seizure of private property and bad business results, reports Index.hr on September 23, 2017.
“After the incredible events around Agrokor, I will now for the first time publicly present the facts about the company and myself. My goal is to explain everything in the coming days and weeks so that no question remains unanswered.
At the beginning of 2017, when Agrokor was led by my management and me personally, the company had a firm plan for progress and successful growth and repayment of all debts in compliance with statutory obligations. That was the policy of Agrokor in all the decades of its successful business operations.
At that time, the government made certain political moves, hoping to gain control over Agrokor through a plan which had been obviously prepared in advance. Targeted distribution of disinformation and negative rumours in statements from the highest officials during the first months of 2017 destabilised Agrokor. The government lied and manipulated the Croatian public. Using constructions and inappropriate media activities, the framework for attracting political allies was created.
The goal of such actions by the highest government officials was to adopt the unconstitutional “Lex Agrokor” and to nationalise private property, and such a case has not been recorded in modern Europe. I and the Agrokor management signed the activation of the law under pressure, coercion, threats, manipulation of the legal provisions and due to media lynching.
While others were destroying, we were building bridges – we invested billions in Croatia and neighbouring countries. We created the preconditions for the survival and prosperity of successful and satisfied people to live on their own land.
At the beginning of 2017, no exceptional situation existed in Agrokor. Indeed, we were in an even better position than before and had a great future. Our results are measurable, just like the results of the extraordinary management which is currently managing the stolen company.
Under extraordinary administration, a significant part of Agrokor’s assets have been blocked and control has been lost over some of the operations in neighbouring countries. Numerous lawsuits have been launched against Agrokor, which threaten the overall stability and sustainability of the company. Revenues have dropped by roughly 20 percent, and the synergies that were worth billions have been undermined. Agrokor has been burdened with an unnecessary and unlawful loan, and all the critical strategic assets have been used as collateral.
If this situation continues, all creditors, apart from extraordinary administrator Ramljak’s privileged funds, will lose a lot of their value. That is the real truth. Everything else is lies and deceit coming from the extraordinary administration and its political sponsors, which will soon be proven by the facts.
At a time when Agrokor was attacked by the most frightening political and media campaign in the history of our country, the government did not, unlike governments of many other countries, from the USA to Germany, support its key industries and the largest entrepreneur. Indeed, the government was the key participant in this campaign, whose consequences will be equal to treason.
The house of cards built by Deputy Prime Minister Martina Dalić, extraordinary commissioner Ante Ramljak and their partners and helpers is crashing as we speak.
Agrokor’s billions have indeed been lost. But not by my fault, or the fault of my associates, but by government’s activities prior and after the adoption of “Lex Agrokor.” I will talk about it more soon. The citizens of Croatia and the region will see that the nationalisation of Agrokor, designed by the government, is a political project which is opposed to the interests of Croatia.
The government’s decision to nationalise Agrokor has caused far-reaching economic and financial damages which can already be measured in billions of kunas. Such decisions of the government have brought the country into a position of high social and political risk, for which it will not be possible to avoid personal responsibility because behind every crime there are always specific individuals.
Therefore, in the future, in order to protect the value of investments in Agrokor, jobs and the economies of the countries in which we operate, I will launch all legal proceedings available to me, both in Croatia and abroad,” wrote Todorić in the statement.
Deputy Prime Minister and Economy Minister Martina Dalić, one of the authors of “Lex Agrokor”, gave a short statement. “Do you think that he is really that important for the government to comment and for me to spend any time thinking about his blogs?”
Translated from Index.hr.
