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Balkans

CROATIA 06. 04. 2017.   >>  16:20 0

CROATIA

Sabor adopted Lex Agrokor

Croatia's parliament passed an emergency law to shield the country's economy from big corporate bankruptcies.

With 83 votes in favor, 46 against and two abstentions, parliament passed the bill regulating extraordinary administration in companies of systemic importance, parliament speaker Bozo Petrov said in a session aired lived by broadcaster HRT.

The law, commonly known as 'Lex Agrokor', was drafted by Croatia's government in response to recent financial troubles at the country's biggest private concern.

'Lex Agrokor', which could come into immediate effect, allows the government to appoint temporary management to lead a restructuring process at the request of the company's creditors or the debtor itself.

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