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The Kaunas District Court made a decision to initiate the restructuring case of AB SNAIGE

Written by Customer Service on . Posted in Public Companies.

On 2022 September 9th The Kaunas District Court made a decision to initiate the restructuring case of AB SNAIGE and appointed as the restructuring administrator the  JSC Įmonių bankroto administravimo ir teisinių paslaugų biuras. The Kaunas District Court has set a deadline of thirty days from the date of publication of the court order to file a restructuring case on the website of the supervisory authority, during which the creditors have the right to submit their claims and supporting documents to the appointed restructuring administrator, as well as indicate how the fulfillment of these claims is ensured. Also, the court set a deadline of four months, calculated from the date of entry into force of the ruling, to prepare and submit to the court the restructuring plan of AB SNAIGĖ.
According to the AB SNAIGE General Manager Mindaugas Sologubas, such court decision was expected. “The court’s decision to initiate a restructuring case gives the company an opportunity to straighten up, solve the problems it faced due to the war, raw materials and energy crisis, avoid bankruptcy and settle with its creditors,” says M. Sologubas. “Now the company’s immediate goal is to prepare a restructuring plan that meets the interests of creditors and the company and to approve it in the court.”

General Manager,

Mindaugas Sologubas

+370 652 11997

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