Economy Minister Darko Horvat (Photo: Davor Puklavec/PIXSELL) Economy Minister Darko Horvat (Photo: Davor Puklavec/PIXSELL)

According to Economy, Entrepreneurship and Crafts Minister Darko Horvat, the Croatian Shipbuilding Corporation - Jadranbrod has been charged with conducting a comprehensive analysis of the existing proposed measures and to submit its findings to the Ministry of Economy, Entrepreneurship and Crafts.

After receiving the analysis, the Economy Ministry will propose concrete measures and decisions for the implementation of the first conclusion point in accordance with the provisions of the Budget Law, the Law on Budget Execution, the Law on State Aid and other legal regulations that harmonize the operations of companies and the implementation of bankruptcy proceedings, providing copies for the finance and justice ministries.

Following the harmonization of the proposed measures, the competent authorities will then submit a proposal for measures required to implement the conclusions reached in the analysis, Minister Horvat said. The deadline to do so is on August 29th of this year.

For his part Prime Minister Andrej Plenković recalled that the Treći Maj shipyard has already undergone a full restructuring, a process that was completed in 2017. When comparing Treći Maj with the Pula based Uljanik shipyard, which was recently forced into receivership, the prime minister noted that unlike Uljanik, Treći Maj is not an over-indebted company and that had Uljanik not been loans linking it to the Uljanik shipyard, it would have been able to continue function normally, as both existing and potential future clients have expressed an interest and willingness in continuing the ships already contracted as well as new projects.

Meanwhile, the Commercial Court in Rijeka today once again put off a decision on pushing Treći Maj into receivership, setting the next hearing for September 26th.

Source: HRT