The management board of the Alca distribution and logistics company has said that it considers a settlement between with Agrokor's creditors to be the best solution for that ailing food and retail conglomerate and its creditors, and that it supports Agrokor's crisis administration in its efforts to reach a fair settlement.

“The management and supervisory boards of Alca Zagreb d.o.o. consider that a settlement between the creditors and Agrokor Group’s companies is the best solution to overcome this difficult situation facing all stakeholders. Alca fully supports efforts by the crisis administration to ensure a fair settlement, meaning that all stakeholders should shoulder the burden of claims to be written off to the extent that will enable them to continue doing business and preserve jobs,” Alca said in a press release.

“Following a long and exhausting process, we consider that today we have reached a joint agreement with all stakeholders in the process,” the press release said.

Alca added that as soon as a settlement was signed, it would suspend all legal action that was undertaken in an effort to protect its business operations.

Alca, along with Agram and Adris companies, disputed the guarantees and claims held by other creditors, putting into jeopardy the entire debt-for-equity settlement, as the disputes prevented turning of debts of other creditors into ownership stakes.

After attending a meeting in Government House on Monday morning, the crisis administrator in Agrokor, Fabris Perusko, said that he expected the temporary creditors’ council to vote on the final draft of the settlement tomorrow and that he had informed Prime Minister Andrej Plenkovic of the latest developments.

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