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Russia's Sberbank files lawsuit against new debt raising for Agrokor
June 8, 2017 / 9:23 AM / 3 months ago

Russia's Sberbank files lawsuit against new debt raising for Agrokor

MOSCOW, June 8 (Reuters) - Russia’s Sberbank, a major lender to Croatia’s heavily indebted food producer and retailer Agrokor, has filed a lawsuit to a court in Zagreb seeking to prevent the company and its crisis manager from raising new loans.

In a statement on Thursday, Sberbank said that the lawsuit, aimed at preventing new loans at a roll-up option, had been filed on June 7. A roll-up option allows new creditors to claim superiority to their previous debt to Agrokor, Sberbank added.

The bank said that the roll-up option would harm other creditors and parties interested, including the Croatian government. Last week, Agrokor’s crisis manager Ante Ramljak said that the firm expected to finish talks on a new loan soon.

Reporting by Elena Fabrichnaya; writing by Katya Golubkova; editing by Dmitry Solovyov

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