June 19 (SeeNews) - The temporary council of creditors of Croatia's ailing concern Agrokor unanimously adopted the proposed settlement agreement on Tuesday, Croatia's prime minister said, confirming local media reports.
"It is great news [...] This proves that the entire framework that the government and the parliamentary majority created last year in April, with the law on crisis management, enabled the creditors to come to an agreement in a very complex restructuring process," Andrej Plenkovic told the media in Zagreb in a statement aired by TV broadcaster N1.
Plenkovic noted that the restructuring process in Agrokor has prevented Croatia's economic and financial collapse. He noted that once implemented, the settlement will support the country's further economic growth.
"This sends an important message of trust in the competence of the Croatian institutions, the government, parliament, courts, in the face of one of the biggest restructuring processes in Europe," Plenkovic said.
He added that Agrokor's creditors are very satisfied with the settlement.
The settlement deal is now on its way to the Commercial Court in Zagreb, which will have the final say, public broadcaster HRT reported.
If the court approves the settlement, it will schedule a meeting of creditors where they will give their final vote on the deal. The vote must occur prior to July 10.
Plenkovic said on Tuesday he believes the creditors will back the deal that second vote.
Agrokor crisis manager, Fabris Perusko is expected to address the media in Zagreb later on Tuesday.