September 5 (SeeNews) - Creditors have lodged 92 complaints against the debt settlement deal in Croatia's Agrokor which was upheld on June 4 by creditors holding 80.20% of total claims against the troubled concern, Agrokor said on Wednesday.
Agrokor has asked the High Commercial Court to reject all complaints as unfounded or inadmissible, and to confirm its first instance decision on the settlement, it said in a statement issued on its website.
On June 6, the High Commercial Court in Zagreb endorsed the settlement agreement, which envisages the establishment of a new Agrokor concern held by the creditors, in which the largest individual shareholder will be Russia's Sberbank with a 39.2% stake.
According to news portal Poslovni.hr, complaints were submitted by diversified conglomerate Adris Grupa, food group Vindija, lender Addiko Banka, Raiffeisenbank Austria, mobile telecommunications company Tele2, insurer Triglav and others.
Agrokor, which employs some 60,000 people in the region, has been undergoing restructuring led by a court-appointed crisis manager under Croatia's special law on companies of systemic importance passed in April last year with the aim of shielding the Croatian economy from big corporate bankruptcies.
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