Economy Minister Darko Horvat confirmed on Wednesday that businessman Danko Koncar, whose company Kermas Energija is the troubled Uljanik shipbuilding group's strategic partner, on Tuesday held a meeting with an Australian firm willing to partner in the Uljanik Group together with Koncar and the Croatian government.
Asked by reporters ahead of a government session on Wednesday if it was true that Koncar had asked that a second company acquire a stake in the Uljanik to be come co-owners together with his company and the state, Horvat said that it was true.
Horvat said that he could not confirm media speculations that the partnered companies and the state agreed to each invest €100 million in Uljanik.
“From what I’ve heard, those meetings were held late yesterday afternoon, and I will know more about it today, before I am able to say more,” he said.
Asked who Kermas Energija’s potential partner was, Horvat said that it was one of Uljanik’s client companies from Australia, which local media reported is the Scenic Group, a luxury cruise company whose polar cruise ship is currently being built at Uljanik.
Asked when the business account of the 3. Maj shipyard, which is part of the Uljanik Group, would be unblocked, the minister said he hoped it would happen during the day.
Workers at Uljanik and 3. Maj shipyards went on strike on Monday over unpaid salaries for September, which were due on October 15.
According to Croatian law, having a business account blocked for 60 days or more automatically triggers bankruptcy proceedings and sends the company into official receivership.
The deadline for that should expire on Wednesday, unless company management finds a way to convince creditors and suppliers to lift their claims and unblock the account for a single day, which would then buy the company another 60 days.
“The decision is up to company management. If the management files for bankruptcy today, it has the right to do so. If it unblocks the account, we’ll enter a new 60-day period,” Horvat told reporters.
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