ZAGREB, Aug 7 (Hina) - Unless the owners of the Viktor Lenac shipyard and creditor banks decide by August 11 whether they will provide US$8 million for the operation of the shipyard, Economy Minister Ljubo Jurcic said on Thursday he
might propose that the state buy the shipyard for one kuna (approx. 0.13 euros).
ZAGREB, Aug 7 (Hina) - Unless the owners of the Viktor Lenac
shipyard and creditor banks decide by August 11 whether they will
provide US$8 million for the operation of the shipyard, Economy
Minister Ljubo Jurcic said on Thursday he might propose that the
state buy the shipyard for one kuna (approx. 0.13 euros). #L#
Jurcic told Hina that the owners were responsible for the operation
of the private shipyard, saying that it was not fair to criticise
the government for the situation in the shipyard because it was
proposing solutions all the time, unlike the owners and creditors
who he said had proposed nothing.
Jurcic said that the government had given the creditors and owners
the deadline of August 11 to decide whether they would participate
in a "mini-agreement" worth eight million dollars.
The state would participate in the agreement with US$3 million,
while the rest of the funds would be provided by the creditor banks
and the owners. The funds would be used to organise the business
operation of the shipyard and help it to get over its financial
difficulties until October, when a principle, US$28.7 million
agreement on the financial restructuring of the shipyard is to
enter into force.
The shipyard's majority owner, Giancarlo Zacchello, who is
expected to participate in the mini-agreement with about US$1.7
million, said he would provide the funds on condition that the
state, the shipyard's major creditor, did not initiate bankruptcy
proceedings.
(hina) vm sb