Ramljak to Shareholders: ”The Remedy Might Exist, But I Can’t See It”

Lauren Simmonds

Some stand to lose all they have to the Agrokor crisis…

As Poslovni Dnevnik writes on the 21st of December, 2017, Agrokor’s Extraordinary Commissioner Ante Ramljak stated that after the presentation of Agrokor’s draf structural settlement, the starting positions are clear but a certain group of creditors remain dissatisfied, with months of talks in front of them.

“I think these are the starting positions for all of us who have things that aren’t acceptable, and we will talk about it all for three to four months. As for the dissatisfaction of a certain group of creditors, that was to be expected,” Ramljak told reporters. He also said that two things are being disputed by suppliers: in what way things will be discussed to see to what extent some things can be changed, and in what ways they can’t be.

Some remarks leaned towards the fact that creditors in some companies now find themselves in unequal positions, Ramljak stated that he didn’t want to speculate about it, stating that we’ve got to keep in mind that certain groups of creditors must be treated in a completely different way.

“From the very beginning, we’ve been having to face such things, we’re talking, trying to find a compromise solution, and as I’ve repeated several times, there are no winners and losers in this process, everyone just has to find a compromise here, and everyone loses,” Ramljak stated.

When faced with the question of whether or not there is a remedy for the dire situation of Agrokor’s minority shareholders, or will they simply lose everything, Ramljak has said that a remedy may well exist, but he doesn’t see it.

“I think that this is the most risky group and therefore they’ll lose the most,” he stated.

Requested to clarify the model by which different suppliers have different treatment, Ramljak replied that things must begin from what the situation would be if individual bankruptcies were being opened.

“We’re only the administrators, brokers. If the creditors agree to accept what they agree on, then we’ll accept it all, so we’ll give them the total sum, if they agree between themselves for all suppliers to be equal, we will accept that,” he said.

“The whole purpose of this is for everyone who has a claim to receive something more than they would in the case of the company having gone bankrupt,” Ramljak concluded.


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