IFLR1000

Agrokor Group restructuring

9/4/2019
Restructuring
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Completed

9/4/2019

Overview:

  • Croatian conglomerate Agrokor has undergone successful restructuring, the largest in Europe in 2017.
  • Agrokor comprised about 16% of the Croatia's GDP and employed over fifty thousand employees across 20 countries.
  • In the same year, Croatia introduced Lex Agrokor, a law designed to prevent the company from financial collapse.  
  • In 2018, Fabris Peruško was appointed the Extraordinary Commissioner for Agrokor after the previously appointed manager quit.
  • In 2019, under the terms of settlement with its creditors, Agrokor was relaunched as Fortenova Group with Sberbank, its biggest single creditor, as the largest shareholder.

Rajeeb Gurung - Researcher

Jurisdictions:

Netherlands
Switzerland
Croatia
Russia
Slovenia

Deal type:

Restructuring

Practice area:

Restructuring and insolvency

Governing laws:

England and Wales
Croatia
Netherlands

Industry sectors:

Food and beverage
Agriculture

Firms:
Akin Gump Strauss Hauer & Feld

Party: Agrokor (Debtor)

Bardek Lisac Mušec Skoko and Partners in cooperation with CMS Reich-Rohrwig Hainz

Party: Goldman Sachs (Creditor)

Party: BNP Paribas (Creditor)

Party: JP Morgan (Creditor)

Party: Credit Suisse (Creditor)

Party: Monarch (Creditor)

Party: SC Lowy (Creditor)

Lawyer: Jelena Nushol Fijačko

Batarelo Dvojkovic Vuchetich Law Firm

Party: Franck (Creditor)

Lawyers: Ivan Dvojković, Laurenz Vuchetich, Vladimir Batarelo

Baur Hürlimann

Party: Daniel Hunkeler (Administrator)

Bogdanović Dolički & Partners 

Party: Agrokor (Debtor)

Gajski Grlić Prka & Partners

Party: Agrokor (Debtor)

Glinska & Mišković

Party: Tower Property Fund (Creditor)

Houthoff

Party: Agrokor (Debtor)

Lawyer: Jetty Tukker

Kirkland & Ellis

Party: Agrokor (Debtor)

Lawyers: Achim Herfs, Elaine Nolan, Karen Ford, Kon Asimacopoulos, Leo Plank, Partha Kar, Tim Volkheimer, William Burke

Lenz & Staehelin

Party: Agrokor (Debtor)

Linklaters

Party: Sberbank of Russia (Creditor)

Madirazza & Partners

Party: VTB Bank (Creditor)

Party: VTB Capital (Creditor)

Party: Sberbank of Russia (Creditor)

Party: RCB Bank (Creditor)

Party: Knighthead Capital Management (Creditor)

Lawyers: Josip Madirazza, Tatjana Radmilović

Rojs Peljhan Prelesnik & Partners

Party: Agrokor (Debtor)

Schoenherr

Party: Sberbank of Russia (Creditor)

Lawyers: Matija Vojnović, Miriam Simsa

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