“Insolvent Croatian food and retail conglomerate Agrokor [AGROK.UL] recognises creditor claims worth 41.2 billion kuna ($6.35 billion) but disputes other claims totalling 16.5 billion kuna, including that of Russia’s Sberbank, its biggest single creditor, the administrator said on Thursday. Agrokor, the biggest employer in the Balkans with around 60,000 staff, was put into state-run administration in April and has until July 2018 to achieve a final settlement with creditors to avoid bankruptcy. Its founder Ivica Todoric, who was detained and released on bail in London on Tuesday, and 14 other people are being investigated over Agrokor’s problems. Agrokor’s creditors include bondholders, local and foreign banks as well as suppliers. The biggest single debt, around 1.1 billion euros, is held by Sberbank.” (Reuters)

“The Croatian government survived a parliamentary no-confidence vote early on Saturday that the opposition demanded over the handling of a debt crisis at the country’s largest private firm Agrokor. In the vote, which followed 12 hours of a parliamentary debate, 59 deputies in the 151-seat parliament were in favor of the removal of the conservative-led cabinet, while 78 were opposed to it. The no-confidence motion came as the opposition led by the Social Democrats said a liquidity loan agreed in recent months with creditors, including foreign investment funds, to finance Agrokor’s operations through a 15-month period of restructuring lacked transparency and favored some creditors.” (Reuters)

“Despite her recent criticism of Andrej Plenkovic’s government policies, Kolina Grabar-Kitarovic insists the two aren’t in conflict. Demography is the key of all the issues, the president said. As Poslovni Dnevnik writes on the 12th of November, 2017, Croatia’s president Kolinda Grabar Kitarovic dismissed claims that she was in conflict with Prime Minister Andrei Plenkovic, but added that her goal was to warn the state of way things stand and announced that she had requested to convene a session of the National Security Council about the situation in Agrokor from him….’No, we’re not in conflict, my goal is to be very realistic, not optimistic, nor pessimistic, but to warn (people) of the state that exists in this country, because it’s my duty to citizens and it’s my constitutional obligation as well.'” (total-croatia-news)