June 8, 2017 / 2:11 PM / in 2 months

Russia's Sberbank says Croatian court rejects claim on Agrokor new loan

MOSCOW, June 8 (Reuters) - Russia's Sberbank said on Thursday that the Commercial Court in Zagreb has rejected its claim asking to bar Agrokor from entering into new financing agreements under a roll-up option.

"This effectively means that, according to the judges who considered the applications, the current version of Lex Agrokor does not provide any protection for creditors against unreasonable and illegal actions of the company," the bank said.

Earlier on Thursday, Sberbank said it was filing a lawsuit trying to prevent new loans at a roll-up option, which allows new creditors to claim superiority to their previous debt to Agrokor, Croatia's heavily indebted food producer and retailer.

Reporting by Elena Fabrichnaya; writing by Katya Golubkova; editing by Vladimir Soldatkin

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