This article is based on a paper presented by Prof. Dubravka Aksamovic, an associate professor at the Faculty of Law in Osijek, Croatia. The presentation was given at the EU Business Law Forum in Gyor, Hungary, in June 2017. The paper could be read in the publication of the aforementioned Forum that will be published in the second half of 2017.
The so called case Agrokor took place in the beginning of 2017 when the word about Agrokor’s collapse was spread. What in the beginning seemed only as a rumour brought severe problems to the Republic of Croatia, but also to its neighbouring countries – Slovenia, Bosnia and Serbia in which Agrokor as a parent company has its subsidiaries and employs lots of their citizens. The main question was: what would happen to all the subsidiaries (in Croatia, Slovenia, Bosnia and Serbia) if a parent company Agrokor collapsed, would they be forced to undergo the insolvency proceeding as well? The answer to this question can be found in the new Insolvency regulation that came into force in June 2017 and for the first time introduced the chapter on Insolvency Proceedings of Members of a Group of Companies. According to that, this article will briefly reflect on the situation before the enactment of the new Insolvency regulation, on the new provisions of insolvency of group of companies and on the possible scenario of Agrokor’s insolvency.