June 8 (SeeNews) - Russia's Sberbank, a major creditor of Croatia's Agrokor, has filed a lawsuit with a Zagreb-based court seeking to prevent the indebted food and retail concern from raising new loans, Croatian media reported on Thursday.
The lawsuit was filed on June 7 and aims to prohibit Agrokor from concluding new loan deals under roll-up contracts, news agency Hina reported..
"We believe that this model is not in compliance with the Croatian law and contravenes Lex Agrokor", Hina quoted Sberbank as saying.
The bank added that the concluding of such contracts would be to the detriment of other creditors and stockholders, including Croatia.
Sberbank's exposure to Agrokor totals over a billion euro.
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