• 2015 July 27 10:25

  Bankruptcy proceedings in respect of Lithuanian Shipping Company stopped

  

  Today during the meeting held at the Government of Lithuania a solution how to save PC ‘Lithuanian Shipping Company’ (LSC) has been found and its bankruptcy proceedings stopped, says the Ministry of Transport and Communications of the Republic of Lithuania. In the near future, a transport holding company consisting of LSC, ‘Lithuanian Railways’ and other state-owned transport companies will be set up.

  “After the agreement to postpone the debts repayment term with the bank was reached, the company is now able to arrange with other creditors and maintain its activity. AB SEB bank will provide an additional EUR 3 million loan, guaranteed by JSC ‘Lithuanian Railways’,’ said Rimantas Sinkevičius, Minister of Transport and Communications of the Republic of Lithuania.

  According to the Minister, on Monday the Government will hold a meeting where the plan on payments of ‘Lithuanian Railways’ dividends will be reviewed. 

  Related link:

  Bankruptcy proceedings to be initiated in respect of Lithuanian Shipping Company >>>>

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