ZAGREB, July 7, 2018 – Zagreb Commercial Court judge Nevenka Siladi Rstić approved the plan for the settlement of claims accepted by Agrokor’s creditors in the process of emergency administration in that ailing food and retail group, ruling that the implementation of the settlement plan would be overseen by the court, the Agrokor emergency administrator and the Temporary Creditors Council.
Agrokor creditors on Wednesday voted in favour of the settlement plan as part of the emergency administration procedure, with creditors who hold 80.2% of the total claims supporting the deal. The creditors in favour of the settlement plan hold 27.08 billion kuna in claims, out of a total of 33.76 billion kuna in claims. Creditors with claims worth 4.7 billion kuna were against the settlement plan.
Judge Siladi Rstić said that “the emergency administration procedure ends with the implementation of the settlement plan and the plan will be in force as of the day of adoption of the decision confirming it for all creditors – both those who did not take part in the emergency administration procedure and those who did, and those whose contested claims will be subsequently determined.”
The decision may be appealed within eight days from its receipt before the High Commercial Court.
