Croatia: Special law in bid to help failing private giant
The Croatian Assembly has passed a new law aimed at providing assistance to "systemically important companies" unable to repay their debt.
Thursday, 06.04.2017.
14:45
Croatia: Special law in bid to help failing private giant
The legislation regulates extraordinary administration in companies of "systemic importance" with more than a billion euros in debts and more than 5,000 workers.The law was drafted in response to Agrokor's massive debt crisis - however, the Croatian government claims that its goal is not to protect Agrokor owner Ivica Todoric, but the country's economy.
The largest opposition parties, the SDP and the HNS, did not support the bill, focusing their criticism on an amendment submitted by the ruling HDZ, which they said "enables banks to collect damages at the expense of the state."
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