April 6 (SeeNews) - Croatia's parliament passed an emergency law on Thursday to shield the country's economy from big corporate bankrupcties.
With 83 votes in favour, 46 against and two abstentions, parliament passed the bill regulating extraordinary administration in companies of systemic importance, parliament speaker Bozo Petrov said in a session aired lived by broadcaster HRT.
The law, commonly known as 'Lex Agorkor', was drafted by Croatia's government in response to recent financial troubles at the country's biggest private concern.
'Lex Agrokor', which could came into immediate effect, allows the government to appoint temporary management to lead a restructuring process at the request of the company's creditors or the debtor itself.