Extraordinary management of Agrokor recognizes claims of EUR 5.4 billion – Sberbank's demands disputed

The total amount of recognized claims of creditors and suppliers of Agrokor amounts to around HRK 41.23 billion (around EUR 5.4 billion), whereas HRK 16.54 billion (around EUR 2.1 billion) has been disputed, as shown by the tables published by the Commercial Court of Zagreb, and presented by the concern's extraordinary management, on November 9, 2017.

As stated at a press conference in Zagreb, the claims by the Russian Sberbank have been disputed. The government's extraordinary trustee for Agrokor, Ante Ramljak, said that the London court had recognized Lex Agrokor, which, as the media estimate, might be a blow to the Russian bank, which disputes the process of restructuring and is looking to collect its claims in foreign courts.

This doesn't mean that Sberbank will not collect its debts, but it won't take part in the activities of the council of creditors, that is, it will not be deciding on the debts and the future of Agrokor, the regional TV N1 reports.

– All the lawsuits filed in the London court will be returned to Croatian courts. This is a very important piece of information and it alone shows that we have been on the right path. It largely facilitates this procedure – Ramljak said to the press in Zagreb.

He added that he was in constant communication with Sberbank representatives.

– I believe that there is a possibility of Sberbank's accepting a compromise and ours reaching a deal. Regarding Sberbank, everybody would be happy for the biggest creditor to join the procedure, for everyone to sit at the table and make a deal. When I say everyone, I mean other creditors – Ramljak said.

He added that Sberbank would enter the council of creditors if it withdrew the lawsuits and if an agreement were reached.

When asked by the press about Sberbank's claims of HRK 8.5 billion, Ramljak answered that it was time to demystify its role.

– Why turn Sberbank into a monster? Their claims amount to 18% of the total claims. They can't stop the deal – the extraordinary trustee said.

He also said that the expenses for all the consultants in the procedure amounted to HRK 58 million, and that the amount might reach HRK 69 million depending on the length of the procedure. He also added that the consultants were being paid by the creditors.

The Commercial Court of Zagreb published the tables displaying claims towards Agrokor and related companies, as well as tables with secured and unsecured rights, which show that the total recognized claims amount to HRK 41.23 billion, whereas the disputed claims amount to HRK 16.54 billion.

The amount includes the claims between the companies within the Agrokor concern.

Fortenova grupa d.d.

SBERBANK Rusija

Trgovački sud Zagreb

claims towards Agrokor

Ante Ramljak

Lex Agrokor

suppliers of Agrokor

claims by suppliers of Agrokor