This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
This content is reserved for Global Insolvency Members or members of the American Bankruptcy Institute. Create an account now to gain access. Enjoy free membership for a limited time.
Already a member? Login here.
Croatian hosiery producer Jadran Tvornica Carapa [ZSE:JDTC] has filed for bankruptcy at the commercial court in Zagreb over its failure to repay a debt of 167,000 euro ($183,000), the court said on Friday, SeeNews.com reported. The court has scheduled a hearing on March 27 to discuss the request to open bankruptcy proceedings against the debtor, according to a court decision submitted by Jadran to the Zagreb Stock Exchange. The company’s bank accounts have been blocked for 110 days.
Read more
A unit of Israel Shipyards Industries is among the potential bidders for Croatian shipbuilder Uljanik Brodogradnja 1856, Jutarnji List reported, citing Eytan Zucker, chief executive officer of the Haifa-based company, Bloomberg News reported. An auction for Uljanik is expected on March 4, following previous, failed attempts to divest the debt-laden company, according to the Zagreb-based newspaper. Other potential bidders include Slovenia’s Eko Bor, Croatia-registered Adria Mont, Romania’s GSP Offshore, Italy’s Micoperi based in Ravenna, and La Maison from Cyprus.
Read more
The European Union gave its final approval for Croatia to adopt the euro early next year, when it will become the currency area’s 20th member, Bloomberg News reported. Finance ministers from the bloc meeting in Brussels held a signing ceremony Tuesday. The European Commission, the EU’s executive arm, had recommended that the Adriatic nation of 3.9 million people should be allowed to adopt the common currency, finding that it fulfills the necessary requirements on issues including inflation and public debt.
Read more
As Poslovni Dnevnik/Tomislav Pili writes, Russian bankruptcy, which is increasingly likely to occur soon, will not be felt by the Croatian financial system, and global finances should not be shaken by such a scenario either, according to Croatian analysts, Croatia News reported. After announcing on Monday that the Russian Ministry of Finance will pay out interest to foreign investors in rubles instead of dollars, the story coming out of Moscow altered Russia's state treasury has announced an order has been sent to pay 117.2 million U.S.