UK Court Backs Agrokor Chief's Extradition to Croatia

London's Westminster Magistrates Court on Monday ruled that there are no legal obstacles for Ivica Todoric, owner of indebted food and retail company Agrokor, to be extradited to Croatia.

Media reported on Monday that, under UK law, Todoric's lawyers had failed to prove that he was a victim of political persecution in his home country.

Todoric can appeal the judgment, however, and the appeal process could last an additional four to six months, according to Croatian media.

The founder and owner of the ailing Croatian company turned himself into police in London last November, when he was promptly arrested under a European arrest warrant issued against him.

Todoric was interrogated before Westminster Magistrates Court, and released later on bail for 100,000 pounds sterling.

He was ordered to surrender his travel documents, wear an electronic tag between midnight and 3am, and report to police in Kensington, west London, three times a week.

Croatia's biggest private company found itself in financial trouble from the beginning of 2017.

Due to the company's size and economic importance, Croatia's parliament intervened to rescue it, passing a Law on Procedures for Extraordinary Management in Companies of Systematic Significance in April.

Under the law, nicknamed the Lex Agrokor, the company was put under 15-month state management, to restructure the company, cover its debts and sell off the more profitable parts of the group.

Although he gave up his company to state management the day after the law took power, Todoric later claimed that he had only done so under pressure - and that he was a victim of political persecution.

The company's role in the economy of Croatia is massive, with revenues of 6.5 billion...