Larger suppliers and creditors will have to wait for a while.
Agrokor’s Provisional Creditors’ Council held a meeting on Wednesday in order to approve the payment of debts held against the company by small suppliers –family farms (OPGs) and small enterprises. Agrokor has earmarked 30 million euros from the latest loan to repay these debts, reports Index.hr on 26 July 2017.
The announcement was reported in a statement issued after the meeting ended. “The fifth session of the Provisional Creditors’ Council of Agrokor has been held today. The Council made a decision to repay in full the so-called old debts, created prior to the opening of the extraordinary administration procedure. These include all family farms and small companies which registered their claims,” says the statement.
“The members of the Council were informed at the last session about the criteria for repayment of old debts to suppliers. At today’s meeting, they were presented with a list of vendors which meet the criteria for reimbursement of the full amount of old debts. The Council today has approved the payment of debts to more than 2,100 suppliers, in the total amount of 132 million kunas. With this decision, large vendors and other creditors have demonstrated their solidarity with the smallest suppliers, because this is the only category for now that will receive the full amount of debt,” adds the statement, recalling that the company will in the end spent as much as 30 million euros for repayment of old debts.
“As a reminder, we point out that, within the framework of the new financing, a total amount of up to 150 million euros has been earmarked for the repayment of old debts to all Agrokor’s suppliers who meet the criteria, of which 30 million euros is intended for family farms and small suppliers,” reads the statement.
Today’s session was attended by Marica Vidaković as a representative of major suppliers, Knighthead Capital Management, LLC as a representative of bondholders, Sberbank from Russia as a representative of uninsured creditors, and Zagrebačka Banka as a representative of insured creditors. Also present was Ante Ramljak, the government-appointed extraordinary commissioner in Agrokor.
Translated from Index.hr.
