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May 16, 2023 16:22 EEST
May 16 (SeeNews) - Croatian privately-owned DIV Group said its creditors approved its restructuring plan which envisages full repayment of the company’s debts, without write-offs, over a period of 15 years.
A total of 261 of the company’s creditors, whose receivables equal 98.33% of the total, voted in favour of the proposed plan, while eight creditors voted against, the company said in a press release on Monday, following creditors meetings held at the commercial court in Zagreb on May 5 and May 11.
Pre-bankruptcy proceedings started in DIV on April 27, 2022.
The accepted creditors’ receivables amount to 132 million euro ($144 million), according to the restructuring plan published on the website of the court on April 21, 2023.
The parent company of the group, DIV Grupa d.o.o., had 729 employees on February 1.
DIV Group specialises in metal processing and production of screw goods and other machine parts and metal products. The group is owner of local shipyard Brodosplit.
($ = 0.919 euro)
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