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Commercial Court of Belgrade dismisses Agrokor's appeal in the procedure against Banca Intesa


On 9th January 2020, Agrokor received the second instance judgment of the Commercial Court of Belgrade dismissing Agrokor's appeal and confirming the first instance judgment of 8th March 2019, ordering Agrokor to pay to the plaintiff Banca Intesa ad, Belgrade, the amount of EUR 15.2m plus interest and to settle the costs of the litigation procedure. Pursuant to the first instance judgment, that has now become final and non-appealable, Banca Intesa Belgrade can try to institute enforcement proceedings over the assets of Agrokor in Serbia.

Agrokor shall continue to fight by legal means given that Banka Intesa Beograd already recovered has already happened its entire claim in question in accordance with Agrokor's creditors' Settlement Plan by having received equity and debt securities, in particular depositary receipts in the nominal amount of EUR 1.34m and convertible bonds in the nominal amount of EUR 5.4m, whereby it has become co-owner of Fortenova Group holding a 0.5 per cent share.

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