The Commercial Court in Zadar opened the bankruptcy of Šibenik’s TLM Aluminium on Tuesday, confirmed Vedran Dragičević, president of the Metalworkers’ Union of Croatia.
According to him, the bankruptcy was initiated at the request of the workers and some other creditors. The workers requested bankruptcy in order to attempt to collect their claims in that process, as they have been without pay for two months. They could have waited another month with the request for opening bankruptcy, but they assessed that an earlier opening increases their chances of collection, says Dragičević.
A hearing to determine the claims is expected to be held in two months. Among the largest creditors of TLM Aluminium, alongside the state and workers, are Hypo banka, Jadranska banka, and Hrvatska poštanska banka. Dragičević believes it would be beneficial if the workers and the state, as the largest creditor, acted in unison in bankruptcy, as they could dictate the course of the proceedings in that case.
The appointment of a bankruptcy trustee is expected in three days, and the union will request the continuation of production and support those creditors or potential new owners who wish to do so and who will pay the workers, of whom there are more than 400, their claims, says Dragičević.
– Our favorites will be those who pay salaries, severance pay, and rights according to the collective agreement, says the union representative.
As possible strategic partners for Šibenik’s TLM, Slovenian Impol and a Czech fund have been mentioned in the media for some time. Dragičević is also concerned for the company TLM Factory of Pressed Products with 120 workers because, as he said, the local management does not have the support of Jadranska banka in their plans. Therefore, in his opinion, the management should turn to HBOR and he expects that they will do so.
