The Zagreb Commercial Court on Tuesday published a notice calling on all creditors of the Hungarian-Croatian Chamber of Industry and Commerce to within 45 days propose the opening of bankruptcy proceedings in the Chamber with a debt of more than HRK 41,000.
The notice also called on representatives of the chamber to within 15 days submit a notarised declaration of assets and liabilities and should they and creditors fail to comply, the court will hand down a ruling on opening and closing fast-track bankruptcy proceedings.
The Hungarian-Croatian Chamber of Industry and Commerce was set up in 2006 to promote economic and trade interest and advance the representation of interests of Hungarian companies doing business in Croatia.
The then Croatian Government and Croatian Chamber of Commerce (HGK) supported the forming of the chamber.
Although expectations of the Hungarian-Croatian Chamber were high over the past ten year, in November last year the Hungarian side opened an office of the Hungarian national trade agency in the eastern Croatian city of Osijek. The agency had the same objective as the chamber which is now facing bankruptcy.
Until 2013, the Croatian-Hungarian Chamber of Industry and Commerce was led by the mayor of the Hungarian town of Szentlorinc, Mark Gyorvari, and director Eva Almasi-Gatai.