The Franck company sent written observations to Commercial Court on Friday on the draft settlement agreement in the crisis procedure in the indebted food and retail group Agrokor, N1 learned on Friday.

Franck, one of Agrokor’s creditors, said the draft settlement agreement contains illegal and damaging solutions to the group’s problems, and that the adoption and confirmation of such a text would cause immense damaging consequences in the long term to the large majority of the group’s creditors, the state budget, and the stability of the financial and economic system. The settlement, as such, presents another systemic risk, Franck said, as N1 learned.

Franck recommended that the Court instruct the crisis manager Fabris Perusko to correct all the shortcomings, in line with the law on civil procedure, and to obtain opinions of the Finance Ministry and the Tax Administration.

N1 television sent a request for comment to the crisis management, but did not receive a reply so far.

On Thursday, the crisis management of Agrokor announced they had reached the settlement and secured the necessary support of two thirds of Agrokor’s creditors.

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