Trustee signs Memorandum on Agrokor’s Bills of Exchange
Apr 19, 2017
Memorandum sent to 159 suppliers and 31 banks / factoring companies
Ante Ramljak, the Extraordinary Trustee for Agrokor, signed the final version of the Memorandum on Agrokor’s Bills of Exchange today. The purpose of this Memorandum is to define and regulate relations between suppliers and creditors with regards to bills of exchange, while adhering to the principles of cooperation and distribution of risk and costs.
After it was signed, the Memorandum was sent to 159 suppliers and 31 banks, factoring companies and other financial institutions.
Agrokor calls on interested parties with bills of exchange related affairs with the company to complete and sign the Memorandum application form no later than April 21st.
By signing the Memorandum, the creditors and suppliers can secure that, under certain conditions, suppliers will not undergo compulsory collections. Per the Memorandum, creditors or financial institutions that sign it will not initiate compulsory collections until May 31st, 2017, or a later date subject to reaching a bilateral legal arrangement between the creditor and supplier. Bilateral legal arrangements prescribed by the Memorandum are, for example, deferred collections of claims until cessation of the extraordinary administration procedure, given approval from an institution competent for creditors’ actions, or a loan approved by credit institutions or other ways acceptable to creditors and suppliers.
Within seven days upon signing of the Memorandum, a joint workgroup will be appointed with seven members, out of which three will be creditors’ representatives, three suppliers’ representatives and one representative from Agrokor who will coordinate the group. The task of the workgroup is to help resolve technical and implementation issues and coordinate future cooperation between suppliers, creditors and Agrokor.
Once completed and signed, the application can be sent via e-mail to email@example.com or mail to Agrokor d.d. Uprava, Trg Dražena Petrovića 3, 10 000 Zagreb.
Communications Office Colić, Laco & partners
Anja Linić Sikavica
Director for Public Relations