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Croatia names manager for Agrokor, church calls to save the 'savior'

Staff Writer |
The Croatian government nominated Ante Ramljak to head the restructuring of food producer and retailer Agrokor which is aimed at averting the bankruptcy of the country's biggest private company.

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"This (case) is a top political, economic and financial issue for Croatia. Ante Ramljak is an expert with experience in investment banking and consultancy. We have made sure so far there are no major negative effects on the economy," Prime Minister Andrej Plenkovic told an extraordinary cabinet session.

"Our goal now is to stabilise Agrokor's operations in the coming days and the second step will include its restructuring for which we will also seek an adviser," Plenkovic said.

Ramljak's nomination will require approval by the Zagreb commercial court which is expected very soon.

Six banks said they were working on a cash injection as quickly as possible.

Agrokor owner Ivica Todoric requested the government enact an emergency law, adopted last week, which is designed to save big companies in trouble and protect the country's financial system and economy.

In the meantime, the church is calling for help. "In difficult times of transition from communism to independent Croatia, an important role was given to Croatian Catholic Ivica Todoric.

"After the war that destroyed our lovely country, the savior employed thousands of Croats from Vukovar to Dubrovnik. It is the duty and obligation of every true Croat to pray for the Croatian hero and divine shepherd Ivica in these difficult times," God's hands writes.


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