The Hotmail Affair Gets a New Direction
INDEX news portal, which broke the Hotmail affair by publishing the email exchanges of the Borg Group and former Deputy Prime Minister Dalić, published today few new emails showing that there might have been differences in treatment of creditors at the beginning of the interim administration.
Apparently, the Agrokor administrators did not disclose what claims they paid, which could affect the selection of the Creditors Council. […]
27.05.2018 Read More
Franck Successfully Challenges Agrokor Special Administration
Almost all media in Croatia carry the HINA report today that The High Commercial Court in Zagreb decided on 05 April to grant appeals by Franck and nine other domestic and international creditors, and annul the decision of the Basic Commercial Court in Zagreb on formation of the Board of Creditors. This decision was made public on 27 April, 2018, just before the long holiday weekend. […]
02.05.2018 Read More
New Loans for Small Farmers
The Ministry of Agriculture, HAMAG-BICRO and the Croatian Bank for Reconstruction and Development HABOR, have secured around half a billion Kuna for investment in rural development projects. […]
25.04.2018 Read More
LNG Terminal Gets Only One Bid?
The “open season” procedure for traders with gas from the LNG Terminal on Krk Island ended on 08 April. Although the media are reporting that there was only one bid, the LNG Croatia says there were more, albeit not many. But the company is refusing to disclose any further information to protect confidentiality of the procedure. […]
16.04.2018 Read More
Hotels Investments for 2018
The Ministry of Tourism stated that this season it expects around forty new or renovated hotels to open throughout Croatia. Together with other public and private investment a total of new facilities in tourism should reach a billion Euro investment for this season. Most of the money, around EUR 630 million, will be spent by hotel companies, and the rest by the public sector (cities and municipalities).
Among individual projects, the largest seems to be the Adris Grupa investment in the Park Hotel in Rovinj, worth more than Kn 600 million. The new Park is expected to open by the end of this year, featuring 209 rooms, six restaurants, a wellness and spa center, congressional facilities and so on. This will mark the end of the Monte Mulini renovation in Rovinj. Monte Mulini is an area filled with other Adris luxury hotels. Since its establishment, the Adris Grupa invested around Kn 4 billion in tourism. The group’s hotel arm, Maistra, stated that they expect to see this investment increase by another Kn 2 billion over the next three years, and Kn 450 million of that should be invested in Vrsar. […]
16.04.2018 Read More
Jadrolinija Buys New Ships from Holland
At the beginning of February Jadrolinija chose suppliers of two new catamarans, and two used ones, and none of them come from Croatia. Dutch shipyard Damen was awarded the EUR 11.5 million contract to construct two new vessels, and the TB Shipyards from Harlingen will sell two used catamarans to the Croatian shipping company, at EUR 7.3 million each. Total value of the contract will come to EUR 37.6 million, or Kn 282 million, including the VAT. […]
26.03.2018 Read More
HŽ Infrastruktura Chooses a Contractor for the Zagorje – Zabok Line
HŽ Infrastruktura chose an Austrian company Swietelsky as a contractor to modernize and electrify the Zaprešić – Zabok line. The works are worth a total of Kn 614.4 million, 85% of which will come from the EU funds. […]
23.03.2018 Read More
AD Plastika Opens New Markets
AD Plastika won a nomination to produce side protectors and protective decoration for doors on a new Ford mini-SUV, as well as window guides for a number of PSA Group vehicles. The production is to start in 2019 and 2020, respectively. The Ford contract is reported to be worth over EUR 80 million over eight years, and the PSA contract should bring EUR 12.8 million over six years. […]
23.03.2018 Read More
Who Will Survive Agrokor?
Among many of Agrokor’s suppliers, it would seem some were better at managing their exposure than the others. Some major companies, such as AWT International, Granoli, Sokol Marić and Unex ended up in pre-bankruptcy, and Franck was saved in the nick of time by establishing a partnership with Tommy.
Most have survived so far, awaiting the final agreement to be proposed by Peruško and his team. Small suppliers, the most vulnerable group, were so far paid in full for old debt, and this kept them alive. Medium and large companies managed to recover about 40% of what they were owed, and now are awaiting the final deal with some anxiety. The worst off are those who financed Agrokor through bills of exchange – they got nothing so far, and stand to lose more than any other group of creditors. […]
08.03.2018 Read More
Rimac Unveils New Supercar in Geneva
Rimac Automobili finally unveiled its long-awaited Concept_Two electric super car. An almost two ton car runs on a massive 1,914 horsepower powertrain. The 2,300 NM of torque push the carbon fiber monster to 100 km in under two seconds (1.97 sec, to be exact), and to 300 km per hour in 11.8 seconds. Top speed is rated at 412 km/h, which makes it arguably the fastest production car on the planet. https://www.vecernji.hr/auti/rimac-mate-concept-two-1230852 […]
07.03.2018 Read More