As N1 learned unofficially on Wednesday, the settlement plan the temporary creditors’ council in the crisis administration procedure in Agrokor reached in late May will be sent to the Commercial Court in Zagreb next week.

The temporary creditors’ council will confirm the settlement plan on Monday, and the crisis administration will send it to Commercial Court on Tuesday.

Agrokor is currently in the crisis administration procedure in which the main goal is to reach a settlement with some 6,000 creditors of the group.

According to the special law passed in April 2017, the settlement deal agreed by the company’s state-appointed emergency administration and its creditors and suppliers must be reached by July 10 at the latest. The deal will include a debt-for-equity plan, with creditors with largest claims expected to get the largest stakes in the restructured Agrokor group.

Standing in the way of the completion of the debt settlement are three companies – Agram, Alca, and Adris. These three dispute the guarantees and claims held by other creditors, which puts into jeopardy the entire debt.for-equity settlement, as their disputes prevent turning debts of other creditors into ownership stakes. However, the owner of Agram, Dubravko Grgic, said he was open to making a deal.

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