Lex Agrokor becomes part of EU acquis

Reuters/Francois Lenoir

Croatian Foreign Minister, Marija Pejcinovic-Buric, attended sessions of the General Affairs and General Affairs (Art. 50) Councils in Luxembourg on Tuesday. The former Council adopted amendments to regulations on insolvency proceedings, making Croatia's Lex Agrokor part of the EU acquis, the bloc's body of law.

The Council also discussed the European Commission’s enlargement package presented in April, with Pejcinovic-Buric supporting paving the way for Albania and Macedonia to prepare for accession negotiations with the European Union.

Pejcinovic-Buric supported adopting the Council’s conclusions on enlargement and the Stabilisation and Association Process (SAP), a transition phase towards full EU membership. She said Croatia supported the bloc’s enlargement, and believed the way has been paved for Macedonia and Albania to prepare for their accession talks.

The EU foreign ministers discussed conclusions for the European Council session onJune 28-29 on the issues of migration, security, defence, jobs, growth and competitiveness, innovation, and digital matters, the 2021-27 financial framework, and foreign relations, the ministry said in a press release.

Pejcinovic-Buric said Croatia favours a strategic and integrated approach to migration management based on solidarity and responsibility, the backbone of which is the establishment of an effective and sustainable European asylum system, the efficient control and protection of EU’s external borders, the efficient policy of returning illegal migrants, as well as stronger cooperation with third countries, especially those in Southeast Europe.

With regard to the financial framework, Croatia emphasised the importance of continuing to finance policies which are priority for Croatia, such as the cohesion funding and common agricultural policies.

The Council adopted amendments to an annex to Regulation 2015/848 of the European Parliament and of the European Council on insolvency proceedings. The annex mentions national legislation procedures in cases of insolvency, including Croatia’s emergency administration procedure in companies of strategic importance.

The law, which the media had dubbed Lex Agrokor, and which the Parliament passed in April 2017, allowed state-appointed management to take over the indebted food and retail group Agrokor to help save it from bankruptcy.

The adoption of the amendments has made Croatia’s law part of the EU’s acquis, and confirmed its alignment with European insolvency law standards, the ministry said.

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