In Pre-Bankruptcy Settlement 1,096 Companies

Currently, there are 1,096 cases in the pre-bankruptcy settlement process, with a total of 26.32 billion kuna in liabilities and 22,128 employees, announced today by the Financial Agency (Fina).

These are aggregate data from Fina for the period from the beginning of October 2012 to the end of last week, specifically September 6, 2013.

During this period, 3,850 cases were resolved, with reported liabilities of 21.53 billion kuna and 19,268 employees.

Resolved cases include rejected proposals for the opening of pre-bankruptcy settlement procedures, suspended procedures, and procedures that ended with the acceptance of a financial restructuring plan, Fina states.

In total, during this period, 4,946 cases were reported for the pre-bankruptcy settlement process, with reported debts of 47.85 billion kuna and 41,396 employees. In the majority of cases, specifically in 4,396 of them, debtors had debts below 10 million kuna.

So far, a financial restructuring plan has been accepted in 620 cases, with reported liabilities amounting to 9.7 billion kuna. These are companies that employ a total of 9,269 employees.

At the same time, a settlement has been reached, meaning a decision on the conclusion of a settlement has been made before the competent commercial court, in 176 cases, where 2.38 billion kuna in liabilities was reported, and 3,406 employees are employed in these companies.

The most settlements so far have been concluded at the Osijek Commercial Court, with 58. This is followed by the Commercial Court in Varaždin, with 44 settlements, then in Rijeka, 41. At the Commercial Court in Zagreb, 13 settlements have been concluded so far, in Split 10, in Bjelovar 8, and in Zadar 2.

When viewed by area of activity, the most cases in pre-bankruptcy settlement procedures were in wholesale and retail trade, repair of motor vehicles and motorcycles – 1,038.

The largest amount of liabilities in pre-bankruptcy settlement procedures, 12.2 billion kuna, was reported in construction.

The largest number of employees in companies undergoing pre-bankruptcy procedures is in the manufacturing industry, totaling 16,104, according to the latest aggregate data from Fina.