October 11 (SeeNews) - Croatia's parliament decided on Wednesday to set up a commission to look into alleged wrongdoing in the country's ailing food-to-retail concern Agrokor that has brought the group to the brink of collapse.
The motion was backed by 113 members of parliament, while 11 MPs voted against and 13 abstained, a live broadcast of the parliament session showed.
The commission will have nine members and will be chaired by opposition Social Democratic Party (SPD) member Orsat Miljenic. Its secretary will be Marija Jelkovac from conservative HDZ party, part of the government coalition.
The commission will have six months to look into Agrokor's financial problems, local media have reported.
On Tuesday, Croatia's government issued a statement saying that Agrokor has been brought to the verge of bankruptcy by its owner.
"Audited financial statements clearly show the depth and severity of the problem created by the concern's owner Ivica Todoric, due to which the entire Agrokor Group is on the verge of bankruptcy," the government said following the release of Agrokor's financial reports for 2015 and 2016 audited by PricewaterhouseCoopers LLP.
In April, the parliament adopted a law allowing the government to appoint temporary administrators in companies of systemic importance to lead a restructuring process at the request of the companies' creditors or the debtors themselves. Todoric was stripped of his managerial rights under the law popularly known as Lex Agrokor but remains owner of the concern.