PREPARATIONS FOR BANKRUPTCY PROCEEDINGS IN 'NAMA' ABOUT TO START

ZAGREB, March 24 (Hina) - Representatives of the Croatian Privatisation Fund (HFP), the management of Croatia's largest chain of stores 'Nama', 'Sloboda' department store, Privredna Bank Zagreb (PBZ), and 'Nama' workers agreed at a meeting in Zagreb on Friday that preparations for bankruptcy proceedings in 'Nama' should start. PBZ officials said the bank was willing to help find employment for part of 'Nama' workers. The next meeting of HFP officials, 'Nama' management, and union representatives, when the bankruptcy schedule will be determined, will be held on Friday, March 31. The Association of Workers' Unions of Croatia (HUS) today sent a letter to the Government, HFP, and the PBZ, urging them to do all they can so that the company's bankruptcy could be avoided. This means, the letter read, that the PBZ would have to give up a considerable part of its claims toward 'Nama', which 'Nama' workers find disputable because they believe that the PBZ has significantly contributed to the situation their company is in. The unions also believe that the Government, as the owner of 88 percent of 'Nama' shares (through the HFP) and as a social democratic government in a social state, should invest into the company and find experts who could revive it. "We believe that the 1,900 'Nama' employees deserve a much more serious and humane approach than that offered to them so far," read the letter, signed by the head of the Zagreb HUS office, Mario Ivekovic, and the president of the Croatian Commercial Sector Workers' Union, Dragica Petrinjak. (hina) rml