Pevec is definitely going bankrupt. Bankruptcy judge Branka Pelskalt today issued a decision to open bankruptcy proceedings against the company Pevec Bjelovar, which employs 427 workers, as Zdravko Pevec failed to secure a guarantee from a strategic investor to meet obligations.
Let us recall that Pevec claimed on Monday to have a strategic partner ready to invest 300 million euros in Pevec and requested a three-week postponement for the opening of bankruptcy, but he was unable to obtain it as some creditors did not agree. The bankruptcy judge therefore granted Pevec a postponement of only three days. During this period, Pevec was supposed to submit a statement regarding the assumption of debt by the strategic partner and a bank guarantee. However, he failed to do so, and attempted once again to persuade the Trade Union to agree to a three-week postponement of bankruptcy (other creditors at the hearing on Monday agreed to the three-week postponement, but the Union did not want to agree). Given that Pevec was unable to ‘break’ the union or find a serious strategic partner, the bankruptcy judge had to make a decision to initiate bankruptcy on Christmas Eve. The conditions for this are more than fulfilled – account blockage longer than 60 days (on December 15, the account of Pevec Bjelovar was blocked with approximately 143 million kuna) and over-indebtedness (debts of 130 million kuna exceeding assets). (A.K.)
