Memorandum on bills of exchange – meeting of the joint work group
May 26, 2017
At today’s meeting of representatives of Agrokor supplier coordination groups and representatives of credit institutions and factoring companies who signed the Memorandum on Agrokor’s Bills of Exchange, the need to adhere to obligations from the document was mutually confirmed.
Suppliers and creditors of Agrokor and its member companies are called upon to arrange bilaterally their relations with credit institutions and factoring companies, in order to resolve the issue of claim registration and to settle unresolved debts during the process of initiating the Extraordinary Administration procedure.
Factoring companies and banks as creditors on one side and suppliers on the other, who signed the Memorandum, will continue to cooperate in resolving the problem of suppliers in order to decrease the negative effects of this situation.
A bilateral agreement between each individual supplier and creditor within the timeframe defined by the Memorandum is the foundation for each solution and option in this situation. The positive effect of such solutions and options could then be carried over to parties who reached bilateral agreements.
All stakeholders in Agrokor’s Extraordinary Administration procedure are called upon to, during the process of Agrokor’s recovery and beyond and as creditors of Agrokor’s companies, invest maximum efforts, within their possibilities, so that said companies, suppliers, credit institutions and factoring companies could find a jointly acceptable solution to ensure that obligations based on bills of exchange will be eventually provided for by the main bill of exchange debtors – companies of the Agrokor Group.