New year, old blog.
Ivica Todorić has taken to his blog once again on the 9th of January, 2018, this time taking aim at the advisers appointed by Agrokor’s government appointed extraordinary administration team who he claims are set to cost the ailing and indebted Agrokor Group a fortune.
We bring you the ex Agrokor boss’ latest blog post translated in full into English below:
”Since the very beginning of writing my blog, I’ve emphasised that various interest groups have been organised to take [over] Agrokor in an unlawful manner in order to acheive their own personal benefits. Today, I want to point out some of these groups.
One of them is AlixPartners, which is allegedly involved in Agrokor’s restructuring processes. In reality, this company merged with the people from Knighthead Fund and Minister [Martina] Dalić and all of them took over full control over all the processes going on within Agrokor. Thus, Knighthead Fund and AlixPartners took over and managed Agrokor’s balance sheet so that they’d end up with the liquidation balance in the end.
The main task of AlixPartners in this process is money laundering, which involves the engagement of various affiliated and interested companies (Ramljak’s firm, Ramljak’s girlfriend’s firm, Bricelj, InterCapital etc.), wasting enormous assets from Agrokor, which are many times bigger than what is needed for restructuring. Since they’re working not on restructuring, but on the liquidation of the firm, it’s clear to everyone that the alleged cost of restructuring is actually the most commonly carried out theft (of the company). I’ll describe and document all of these statements in more detail in the coming days.
The other group I want to talk about is Houlihan Lokey and Kirkland & Ellis.
Namely, in the autumn of 2016, on behalf of Agrokor, I personally signed the Consultation Agreement with Houlihan Lokey, after which they began active co-operation with Agrokor.
Houlihan Lokey subsequently suggested we include Kirkland & Ellis as legal advisors in the job, so we accepted and hired them. During the initial several-month long period of political and media pressure on Agrokor and on me, both companies actively participated in counselling both myself and Agrokor’s management.
I personally contacted Kirkland & Ellis with numerous confidential questions and shared various pieces of confidential information, as well as suggestions with them. After my departure and the departure of Agrokor’s previous management body, both institutions continued to work in Agrokor as advisors to the new extraordinary commissioner [Ante Ramljak].
Given the fact that the government appointed extraordinary commissioner personally filed a criminal charge against me, I believe that both institutions are in serious conflict of interest and are responsible for serious violations of professional ethics.
At the end, I just have to conclude that conflict of interest and unprofessional behaviour are common practice within Agrokor’s extraordinary administration, in which these are all well-suited. So much for the morals of those who’re “rescuing” Agrokor and Croatia!”
Ivica Todorić’s blog post translated in full from ivicatodoric.hr
