Invitation to participate in steel mill assets sales process of insolvent JSC "Liepājas Metalurgs"
Today 10.09.2013 Liepaja Court has approved the Implementation Plan of the Legal Protection Procedure (LPP) that defines the resumption of operations of Joint Stock Company “Liepajas metalurgs”.
Extraordinary Shareholders Meeting of the Joint-Stock Company "Liepājas Metalurgs" will take place on Brivibas Street
The JSC Liepājas Metalurgs shareholders ordinary meeting was called for July 29, 2013 9:00, in which the share fixed capital of 16 308 487 was represented, the number of the shareholders present with rights to vote was 16 308 487, which makes 96% of the share capital with votes rights.
Agenda and draft resolutions of examinable issues of shareholders meeting of JSC “Liepājas Metalurgs” to be held on July 29, 2013:
Joint Stock Company “Liepajas Metalurgs” informs that the company has
received decision No.C20261213 of 27.05.2013 of Liepaja Court, with which
Liepaja Court has decided to initiate proceedings on the legal protection
of Joint Stock Company “Liepajas Metalurgs” defining that the legal
protection implementation plan is to be agreed till 26.07.2013.
Information to the press
JSC Liepājas Metalurgs has performed the interest amount payment in full amount - EUR 1 855 867.42, in compliance with the Italian bank UniCredit S.p.A. loan agreement. The Company has fulfilled its obligation in accordance to which the bank was to receive the payment by April 30, 2013.
On 17th April a meeting took place between financial consulting company “Prudentia”, Ministry of Economics, Ministry of Finance and shareholders of “Liepajas Metalurgs”. Proposals of the Cabinet of Ministers for the support of “Liepajas Metalurgs” and preconditions for the state support to the company were discussed at the meeting.
It shall be admitted without prejudice and for the sake of justice that the steel industry in the European Union and the tightly related civil construction sector are in the deepest crisis. This is indisputable. The assignment of the European Parliament to the European Commission to propose a realistic plan within June this year for rescuing the industry serves as evidence.