What’s Happening in Agrokor? Peruško Gathers All Directors in Konzum Building

Lauren Simmonds

A meeting of all directors in Sopot, but for what?

Fabris Peruško wants to further convince the company to prepare balance sheets and financial statements at today’s meeting, according to the model proposed by the consulting house.

As Poslovni Dnevnik writes and as N1 learns on the 30th of March, 2018, a meeting at the Konzum building in Sopot in Zagreb was held today and was reported to be still in progress at around 10:00 this morning.

Ante Ramljak’s replacement and Agrokor’s new extraordinary commissioner, Fabris Peruško, summoned the directors of all involved companies to the Konzum building in Sopot to engage in a discussion on how to prepare and sign off the company’s annual financial statements, and there seems to be a serious problem in the relationship between the extraordinary management team and the management in the involved companies in preparing these necessary documents and reports.

N1 is allegedly in possession of a document produced by a respectable consultancy company suggesting that company directors are to include more than 19 billion euro in guarantees in 2017, although it remains questionable when it comes to whether all this should be recognised by the companies, and to what exact percentage, given the circumstances under which the aforementioned contracts were negotiated.

The directors are then required to calculate the default interest on their debts, regardless of whether the debts or the interest are to be negotiated in the settlement process itself. On the other hand, the involved companies are also required to reduce the value of their mutual claims and investments.

The result of such an approach could be that the balances of the aforementioned companies are shown to be in a much worse, more negative condition, and this could potentially open up the way for the creation of new twin companies. In this case, for the original companies, only debts, bankruptcy and liquidation would be the dire options that remain.

This approach has been being fought against by rebellious small shareholders at Croatian courts for a while now, but according to the currently available information, the directors of those companies are not inclined to resort to such calculations, probably fearful of their own criminal responsibility if they are to sign such financial statements themselves.

According to what has been found out about today’s meeting in Sopot, Peruško has stated that he wants to convince the companies to prepare their balance sheets and financial statements by the same time with further talks, and to do so according to the proposed model prepared by the consulting company who prepared the document which N1 apparently received from a source within Agrokor itself.

According to the legal deadlines, company financial statements must be submitted by April the 30th, 2018.


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