Three scenarios for Hipol's survival - Workers pin their hopes on Prepackaged Reorganization Plan

Privatization of the chemical plant Hipol in restructuring by the Serbian government's plan has given no result, which is why a decision should be made at a session of the Shareholders' Assembly on October 31st to have this respectable company in Odzaci file for bankruptcy.
Production runs smoothly, but debts from the period of first privatization, which was terminated few years ago, burdens the operations and the bankruptcy proceedings will be used as a measure to save the chemical plant.
According to the agenda, one of the proposals at the session of the Shareholders' Assembly of Hipol should be the Prepackaged Reorganization Plan as part of the pre-bankruptcy proceedings in the Commercial Court in Sombor. It should help create conditions for Hipol to resume its operations that have so far proved to be successful.
According to Veljko Vajagic, a worker at Hipol and the president of the Trade Union of Chemical and Non-Metal Workers of Vojvodina, there are three options. The most favorable option for Hipol is to have the Reorganization Plan adopted by the Commercial Court, the second is to have it rejected, and the third option is to have it returned for corrections. Hipol's employees and, of course, Vajagic expect the most favorable option for both workers and creditors to be adopted, which is to accept the Prepackaged Reorganization Plan.

Hipol a.d. Odžaci

Privredni sud u Somboru

Hipol Odzaci

bankruptcy in Hipol

Prepackaged Reorganization Plan

Commercial Court in Sombor

bankruptcy Hipol

Trade Union of Chemical and Non metal Workers of Vojvodina

Veljko Vajagic