Agreements signed for IP "Krivaja" Zavidovići

Prime Minister of the Federation of BiH Nermin Nikšić signed an Agreement on the status of employees of IP „Krivaja“ between the trade union of this company, the Federal Government, and the partnership group in Zavidovići today. An Agreement on the sale of assets was also signed between the bankruptcy trustee and the partnership group, thus concluding the asset monetization phase in the bankruptcy proceedings of „Krivaja“, Patria reports.

With the successfully concluded agreements and the harmonization of a specific social package between the Government of the Federation of BiH and the partnership group, which secured the right to purchase the assets of the Zavidovići-based „Krivaja“, conditions have been created for signing the Purchase Agreement and concluding the current phase of the bankruptcy proceedings. This signing of agreements marks a new beginning for „Krivaja“, which has been going through difficult transition experiences for years.

The partnership group, consisting of five private companies, after paying a deposit of ten percent of the initial price of „Krivaja“'s assets, was declared the potential buyer. The subject of the sale included the functional parts of the company, namely the parquet and furniture production plants, as well as the „Kristal“ hotel building.

The sale of assets in this manner was also supported by the trade union organization of „Krivaja“, which supported this privatization by insisting that the new buyers also take over part of the obligations towards the employees, guaranteeing the retention of all employees with permanent employment contracts. After accepting this condition, the partnership group, as the buyer, became the new owner of „Krivaja“'s assets, valued at 8,700,000 KM, taking over the obligation to retain approximately 1,050 workers.

The Government of the Federation of BiH, led by Nermin Nikšić, has committed to resolving the issue of linking the service record of „Krivaja“ employees for the period from January 1, 2004, to the date of the asset sale agreement. This obligation will be fulfilled successively as employees meet the conditions for retirement.

Furthermore, the Government will address the issue of linking the service record of „Krivaja“ employees who meet the conditions for old-age pension by the end of the year, and for whom the bankruptcy trustee will not be able to secure funds for linking the service record from the bankruptcy estate.

In the continuation of the bankruptcy proceedings, the Bankruptcy Administration of „Krivaja“ will attempt to increase the bankruptcy estate by collecting outstanding receivables in order to ensure conditions for at least partial satisfaction of creditors, including former and current employees of this company.