Adris company, one of Agrokor’s creditors in the crisis administration procedure in the indebted conglomerate, said on Tuesday that they can not support the Agrokor’s creditors’ settlement.

“Even with all the efforts we put in to reach the settlement, Adris cannot support the creditors’ settlement deal which is neither fair nor just. The legality of the entire procedure is questionable, and time will show how much this settlement is in Croatia’s national interest,” Adris said in a short statement.

The company disputes the guarantees and claims held by other creditors, which put into jeopardy the entire debt-for-equity settlement, as their disputes prevented turning debts of other creditors into ownership stakes.

Prime Minister Andrej Plenkovic met on Tuesday with crisis manager Fabris Perusko and his Deputy Irena Weber, as well as the representatives of the temporary creditors’ council and the suppliers, after the debt-for-equity settlement deal with the creditors was unanimously approved by Agrokor’s temporary creditors’ council earlier today.

“We’ve been working on a settlement for the last several months, we finalised the details over the last few weeks, we’ve harmonised everything with a large share of creditors who are important for the voting process, and we have verified everything with legal teams, so I do not expect any major problems (with the settlement),” Perusko told reporters when asked if he expected problems in court.

Perusko added that the Prime Minister was briefed on the settlement. After a session of the temporary creditors’ council, if everything is in order, the settlement will proceed to court.

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