American fund sues Agrokor

Following the suit by the Russian Sberbank against Ivica Todoric, as well as several suits through which the Russians are looking to collect the debts from the loans approved earlier, the first suit from the USA has been prepared, Vecernji List reports.

Charges against Agrokor were pressed at a court in New York by one of the American funds that took part in crediting the concern at the time of Ivica Todoric.

– The documentation has been filed, and Agrokor is being sued over false reporting of the financial state. Agrokor is being sued, and, as Todoric is still its owner, he will be held responsible as well for the charges pressed against Agrokor – a lawyer explained for Vecernji List.

Following the Russians, it was clear that one of the funds that did not take part in the new credit arrangement of June would do the same, the newspaper writes and adds that the name of the American fund in question is not known and that a large number of, predominantly venture funds, but also pension funds from the USA, Canada and Great Britain took part in crediting Agrokor during the Todoric era.

Of the total number of funds that financed Agrokor at the time Todoric was heading it, around three quarters of them, looking by the amount of bonds, has accepted Lex Agrokor and taken part, together with banks, in the new roll-up loan worth EUR 480 million. The said model provides them with a certain return of the money previously given to the concern, in the amount identical to that with which they participated in the new loan.

– For Agrokor, this means that they will certainly have to pay around a billion euros to them. It could have been guessed that those who didn't want to take part in that kind of model of crediting would decide to press charges over the false reporting of the concern's operations during the period of the former management. However, it is not out of the question that the charges would be expanded to include the state as well – Vecernji List estimates.

Fortenova grupa d.d.

SBERBANK Rusija

Agrokor

Sberbank

Ivica Todoric

Lex Agrokor

charges against Agrokor

Agrokor debts

Agrokor credits