Court extends Agrokor crisis management deadline

Court extends Agrokor crisis management deadline Izvor: Boris Scitar/Vecernji list/PIXSELL

The Commercial Court in Zagreb agreed to move the deadline for Agrokor's agreement with company's creditors and suppliers by three months, extending it to July 10, the court said on Friday.

The extension was granted following a formal request filed by the state-appointed crisis manager at the company, Fabris Peruško, which said that "creditors have reached an agreement on the essential elements of the deal, but finishing and agreeing on the wording of the actual text would require extra time."

The deadline marks the latest date the state-appointed management will be allowed to run the restructuring of the privately-owned company, according to a special law dubbed 'Lex Agrokor' which was passed in April 2017 after the ongoing crisis at the indebted food and retail conglomerate had started.

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