Agrokor Agony: Court Proceedings Against Agrokor in Six European Countries

Lauren Simmonds

Lawsuits against Agrokor have been filed in Croatia, Slovenia, Serbia, Bosnia and Herzegovina, Montenegro and the United Kingdom. The last in the row is that from the Russian lender, Sberbank.

As 24sata reports on the 15th of September, 2017, since the very beginning of the extraordinary administration process in Agrokor, several litigation and enforcement proceedings have been launched in the Republic of Croatia and five other European countries – Slovenia, Serbia, Bosnia and Herzegovina, Montenegro and the United Kingdom against the company, as well as against other affiliated and related companies. A further request from the Russian lender Sberbank was filed in Bosnia and Herzegovina.

On August the 8th, 2017, a request from Russia’s Sberbank asking for a ban on the sale of Agrokor shares in Konzum Sarajevo was sent. The hearing in that proceeding was scheduled for the following month, more precisely September the 14th, but was postponed for procedural reasons and rescheduled for October the 5th, according to Agrokor.

The Extraordinary Administration is aware that Sberbank has initiated enforcement proceedings and requested the issuance of unwelcome temporary measures in Bosnia and Herzegovina.

”Documents related to these proceedings have not been submitted to the Extraordinary Administration yet, but all of the necessary steps will be taken if their delivery takes place. The Extraordinary Administration filed a request for the recognition of the extraordinary administration procedure in Bosnia and Herzegovina, which was contested by Sberbank. The Extraordinary Administration is expecting the Sberbank filing and will take steps to challenge these objections,” state the Agrokor company.

Aside from in Slovenia, where current issues mainly concern Mercator and in Montenegro where issues concern Ledo, most of the other ongoing proceedings are in Serbia. Specifically, during the month of August, the Extraordinary Administration filed complaints against the custodial ruling made at the request of Sberbank over shares in various companies held by Agrokor, including ”Idea” which is held by Konzum. A decision from the court is still pending.

Furthermore, Russia’s Sberbank has undertaken provisional measures which will very likely be challenged by Agrokor’s Extraordinary Administration, meaning that an eventual court decision is therefore to be expected.

The Extraordinary Administration of Agrokor will take all necessary steps in respect to all the proceedings involved in accordance with the Law on the Extraordinary Administration Procedure and in the best interests of Agrokor d.d. and its affiliated companies. The Extraordinary Administration states that it is aware that certain other procedures have been launched against the company but have not yet been officially delivered to the relevant Agrokor company. Agrokor’s statement says that these procedures will be dealt with as and when their respective deliveries are made.

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