ZAGREB, May 9, 2018 - Justice Minister Dražen Bošnjaković said on Tuesday the Constitutional Court ruling that Lex Agrokor was in line with the constitution confirmed that the law was necessary when it was adopted as it helped to save jobs as well as the economic and financial stability.
"I can't imagine what the situation would have been if we didn't have this law," he told reporters, adding that the Bankruptcy Act did not provide the legal framework required for the situation in which the indebted Agrokor food and retail group found itself.
He said the law on extraordinary administration in systemically important companies, dubbed Lex Agrokor, served as a legal framework for preventing job losses and numerous bankruptcies for which Croatia's infrastructure was not ready.
The law resulted in a stable state budget and jobs saved, and all objections to the law were proved to be unfounded, he added.
