Agrokor

The Serbian government on Thursday set up a ministerial team to "analyze and monitor" the situation in Serbia related to problems in operations of Agrokor.

The team will also monitor the situation on the domestic market when it comes to companies linked to the troubled Croatian giant that are doing business in Serbia.

As a Croatian investigative parliamentary committee prepares to hear the first testimonies on how the country's biggest private company, Agrokor, was created, many irregularities from the privatisation processes of the 1990s are expected to be revealed.

The Croatian State Prosecutor's Office has asked that all 15 suspects arrested in the Agrokor case be remanded in custody.

Twelve of those who have been detained will appear before a judge at noon, Hina reported.

A former executive from the ailing Croatian conglomerate Agrokor, Mislav Galic, was questioned at the state attorney's office in Zagreb on Tuesday and presented a document which allegedly shows how all the major financial decisions were made by company's owner and founder Ivica Todoric.

Croatian police on Monday arrested Ivan Crnjac, the former vice-president of Agrokor, in charge of the company finances, his lawyer, Ljubo Pavasovic, told regional media hub N1.

N1 also said the police arrested Tomislav Lucic and Ljerka Puljic, former members of Agrokor's supervisory board, and Piroska Canjuga and Mislav Galic, former members of Agrokor's executive board.

The Croatian parliament on Wednesday will support the establishment of a special investigative committee tasked with revealing what happened to fallen private company Agrokor and its commercial group.

Ante Ramljak, the state-appointed extrordinary manager of Croatia's biggest company, Agrokor, told the media on Monday that he had filed a criminal charge against the "responsible persons" in the former management.

Led by the company's owner and founder, Ivica Todoric, they had failed to disclose the company's full losses in its financial accounts.

The revised financial report for the troubled Croatian retail, food and agriculture giant Agrokor, issued on Thursday, showed that the former management, led by company's owner and founder Ivica Todoric, did not show the company's full losses in its financial accounts.

As the state management of Agrokor prepares to reveal the results of an in-depth financial study on Thursday, many fear that it will reveal new, previously hidden, company debts.

BELGRADE - In a statement released Friday, former Agrokor owner Ivica Todoric threw a gauntlet in the face of Croatian authorities.