ZAGREB, Feb 11 (Hina) - Croatian newspaper publishers and the management of the biggest newspaper distributing company "Tisak" on Friday assessed that the blockade of the company's giro account at the Institute For Payment Operations
(ZAP) by the Rijecka and Privredna banks and the "Diona" firms was the consequence of a disastrous mistake made by the Croatian Government and the State Agency for the Rehabilitation of Banks (DAB). At the moment, the Tisak company is being asked to pay 120 million kuna (16 million US dollars) over that account due to the request of the above-mentioned two banks and the Diona chain of stores, and thus it is facing the threat of going in bankruptcy. According to newspaper publishers who held the closed meeting with Tisak leadership, the State Agency for Rehabilitation of Banks (DAB) has failed to carry out the 23 December 1999 decree of
ZAGREB, Feb 11 (Hina) - Croatian newspaper publishers and the
management of the biggest newspaper distributing company "Tisak"
on Friday assessed that the blockade of the company's giro account
at the Institute For Payment Operations (ZAP) by the Rijecka and
Privredna banks and the "Diona" firms was the consequence of a
disastrous mistake made by the Croatian Government and the State
Agency for the Rehabilitation of Banks (DAB). At the moment, the
Tisak company is being asked to pay 120 million kuna (16 million US
dollars) over that account due to the request of the above-
mentioned two banks and the Diona chain of stores, and thus it is
facing the threat of going in bankruptcy.
According to newspaper publishers who held the closed meeting with
Tisak leadership, the State Agency for Rehabilitation of Banks
(DAB) has failed to carry out the 23 December 1999 decree of the
Government on take-over 89.27 percent of shares of Tisak neither
did it assume the obligation to settle the outstanding debts toward
banks-owners and the Rijecka Bank.
After the meeting, on behalf of publishers, Ivo Pukanic, the
editor-in-chief of the "Nacional" daily, said in their opinion the
DAB should be held accountable for the current situation in Tisak
and requested DAB Director Marijan Sunjic to step down.
Pukanic assessed that there were "very odd businesses which should
be addressed by the judiciary and other state bodies,", adding that
it was "a criminal act". Pukanic cautioned that "in a few days no
newspaper will be printed in Croatia."
He added the recently appointed Government, led by Premier Ivica
Racan, must carry out the decision of the former Government and said
the new authorities would be supported by publishers if this
Government had a new and better solution to Tisak.
The debt of Tisak toward publishers and the Tobacco Factory Rovinj
comes to 40 million German marks. Publishers do not ask money from
the Government, but what they ask is the state guarantee for taking
a loan abroad, Pukanic explained.
He said publishers supported the programme of the Tisak Management
Chairman, Goran Maric.
For Pukanic it is very interesting that on Thursday Diona asked to
collect bills, worth 11 million kuna,(approximately $1.4 million)
from Tisak.
He wanted to ask directors of Privredna Bank Zagreb if it was in the
interest of the bank to block Tisak on Friday and why the DAB
transferred to them 43.16 percent of Tisak shares to control.
Economy Minister Goranko Fizulic on Friday announced that he had
officially initiated a meeting of the Management of the State
Agency for Savings and DAB to consider this problem and the meeting
is to be held in the coming days.
(hina) ms