•  
  •  
  •  

Slovenia's govt approves bill to prevent diversion of funds to Croatian ailing concern Agrokor

Slovenia's govt approves bill to prevent diversion of funds to Croatian ailing concern Agrokor Author: Agrokor. License: All rights reserved.

LJUBLJANA (Slovenia), April 13 (SeeNews) - Slovenia's government said on Thursday it has approved a bill preventing the diversion of funds from companies of systemic importance for the country such as retailer Mercator, a unit of troubled Croatian concern Agrokor.

"We need such a law because we have to prevent a depletion of Mercator, which might occur as a result of Agrokor's problems," the Slovenian government posted on Twitter. 

The bill allows the government to appoint a temporary member of the management board of companies of systemic importance for the country if their majority shareholder is insolvent.

The bill has been sent to parliament for urgent adoption.

On Monday, Croatia's government named Ante Ramljak as receiver of Agrokor to lead the restructuring process in Croatia's largest private concern under a new law adopted by the parliament last Thursday and activated a day later. The law, commonly known as 'Lex Agrokor', was drafted by the government in response to financial troubles that emerged recently at the food and retail group.

Compare