Bjelovar: Insolvency proceedings for the firm Gaj FM

There was a hearing at the Commercial Court Bjelovar where a judge Marija Petrina Kubica accepted the demand of workers who had proposed the bankruptcy of the firm “Gaj FM” Slatina. There are dues of more than 10 mil HRK which were supposed to be paid to the workers. It was affirmed that the account of the firm has been blocked for more than a year now with the total amount of 16 mil HRK. The total dues increased to more than 80 mil HRK. The firm employed more than 270 workers until November. The whole assets are estimated at 15 mil HRK. It is now mortgage bond by the state, Hypo bank and Croatia insurance. The workers asked for leasing the factory as soon as possible to start the production again and decrease the losses from non-functioning for months. They also want to prevent freezing of installations and equipment. The person in charge of insolvency proceedings is Branko Valentic from Virovitica. He was already a bankruptcy administrator in the same firm in 2008. The firm was then called “Inpo grupa”.