May 29 (SeeNews) - A Croatian commercial court said it has decided to establish a board of creditors at Uljanik shipyard and called its first meeting for June 3.
The board will comprise members of the Croatian government, the Croatian Bank for Reconstruction and Development (HBOR), state-owned electricity supplier HEP Elektra, as well as two private individuals - Valdi Matkovic (one of Uljanik's smaller creditors) and Samir Hadzic (a former employee), the court in Pazin said in a statement on Tuesday.
Following is a list of Uljanik's largest creditors, with the amounts of debt they are owed (in millions of kuna), as provided in the statement:
CREDITORS |
|
- financial institutions |
|
HBOR |
68.772 ($10.3 mln/9.3 mln euro) |
Istarska Kreditna Banka Umag |
10.173 |
Zagrebacka Banka |
8.317 |
- big suppliers |
|
HEP Elektra |
9.505 |
HEP-ESCO |
7.746 |
Cosicpromex |
5.026 |
|
|
Earlier this month, the Pazin court launched bankruptcy proceedings against Uljanik Shipyard and later on against its umbrella company, Uljanik Group, in a response to a request submitted in March by Croatia's financial agency FINA over overdue debts.
Uljanik Group also comprises the 3 Maj shipyard, along with smaller subsidiaries.
The group has been in financial trouble for some time due to the adverse effects of the global financial crisis, which resulted in its shipyards failing to meet contract obligations and losing vital shipbuilding deals.
(1 euro = 7.42512 kuna)