Courts in BiH rejected the Request of Sberbank for taking over Konzum?

Croatian corporation Agrokor Ltd. has been in the focus of all the media in the region over the past year, due to its accumulated debt.

The Municipal Court in Kiseljak already approved the request of Sberbank to take over shares of Sarajevo Kiseljak that were owned by Croatian Agrokor, namely Jamnica. Agrokor owes about 1.1 billion EUR only to Sberbank.

After the takeover of Sarajevo Kiseljak, Sberbank submitted requests to the Municipal Court in Sarajevo as well as the Municipal Court in Travnik for the acquisition of ownership in Konzum Ltd. Sarajevo, Ambalazni servis Ltd. Vogosca and Boreas Ltd. Kresevo.

“The Court rejected the request of Sberbank on July 4, 2017. Unsatisfied with the court’s decision, Sberbank appealed on July 21, and the final decision will be made by the Cantonal Court in Sarajevo,” as previously announced by the Municipal Court in Sarajevo.

The Cantonal Court in Sarajevo rejected the request of Sberbank on October 16, 2017.

The Vice-President of the Foreign Trade Chamber of BiH, Bruno Bojic, said that in case that Sberbank takes over Konzum in BiH, it could lead to an unwanted scenario.

Bojic noted that there is no response model if Sberbank takes over Konzum in BiH, since Croatia has promised to our companies that the debt will be paid.

“It might happen that Sberbank says that they do not want to invest in Konzum. Therefore, suppliers from BiH would be deprived for 30 million BAM. A bankruptcy could happened or something like that, which would force the Government of Croatia to prevent the conflict or bring undesirable animosity towards Croatian products in BiH,” noted Bojic.


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