Agrokor bankruptcy will be disastrous for Croatia's economy - PM

Agrokor bankruptcy will be disastrous for Croatia's economy - PM None

ZAGREB (Croatia), November 8 (SeeNews) - Croatia's prime minister, Andrej Plenkovic, said on Wednesday that the potential bankruptcy of the country's largest privately-owned concern Agrokor would spell disaster for the national economy.

In a answer to a question posed by a member of parliament, Plenkovic said that the government has approached responsibly the situation in the troubled concern, according to a government press release.

Plenkovic lashed out at the opposition MPs who have criticised the handling of the crisis in Agrokor by the government. Earlier this month, opposition Social Democratic Party (SDP) submitted a motion for a no-confidence vote in the coalition government over the way it has handled the crisis in the indebted concern.

The opposition has been a fierce critic of the law on extraordinary management of Agrokor adopted earlier this year to prevent the collapse of the indebted concern. In April, the government appoined a receiver tasked with restructuring the concern under the special law governing the management of companies of systemic importance for the Croatian economy. Agrokor owner Ivica Todoric was stripped of his managerial rights under the law popularly known as Lex Agrokor but remains owner of the concern.

"You have repeated that the government passed the law for Ivica Todoric. I have problems in figuring out what you are trying to say considering everything that is happening," Plenkovic added.

Ivica Todoric said that he was granted bail by a London court late on Tuesday, just hours after he was arrested at the Charing Cross Police Station in London, where he was summoned on the basis of an European arrest warrant issued by the Chief State Prosecutor's Office (DORH) of his country in late October.

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