Croatian Court Opens Bankruptcy Proceedings Against Djuro Djakovic's Unit

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Croatian holding company Djuro Djakovic Grupa said that the commercial court in Osijek launched bankruptcy proceedings against its unit Djuro Djakovic Industrijska Rjesenja on December 20, reported. The court is scheduled to hold a hearing of the debtors' claims on March 29 next year, Djuro Djakovic Grupa said in a filing to the Zagreb bourse published after the end of the trading day on Monday. Djuro Djakovic Industrijska Rjesenja filed for bankruptcy in September. At the beginning of 2021, the company reached a pre-bankruptcy settlement agreement with its creditors but has failed to cover its liabilities since then. The holding company said in July that Djuro Djakovic Industrijska Rjesenja had less than 17 employees and contributed less than 5% to the consolidated operating revenue of the group in 2020. Djuro Djakovic's shares last traded at 3.80 kuna ($0.57/0.51 euro) on December 17 on the Zagreb bourse, down 1.30%. The basic activity of Djuro Djakovic Industrijska Rjesenja is the development, design, engineering and manufacturing of industrial machines, parts of industrial machines and steel structures. Read more.