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The director of the company, Giedrius Barcys, says that the projects are currently being completed and that the company should cease operations after a full agreement with creditors.
“We are finalizing the projects, liquidating accounts with creditors and the company will be closed in the near future for not filing for bankruptcy,” G. Barcys told BNS.
We are finalizing projects, liquidating accounts with creditors and the company will be closed without bankruptcy in the near future.
According to him, the liquidation of Axis Power is not due to bankruptcy, because the company has no information that any of the debtors will not be able to reach an agreement with it.
The head of Axis Power highlights that the decision on the future of the company was made before the Office of Public Procurement added Axis Power to the list of unreliable suppliers as one of the former contractors of the Lazdynai basin.
“This decision was not affected by the VPT decision, it was made much earlier in the case of a non-profit company,” he said.
At the beginning of 2020, the Municipality of Vilnius canceled 21.8 million LTL. A contract worth € 1 billion was signed with the bankrupt construction company Active Construction Management (formerly Irdaiva) and its partners Montuotoja, Mitnija, HSC Baltic and Axis Power, if the contractors refused to continue with the work.
The Attorney General’s Office has launched a pre-trial investigation for possible fraud, waste of property, misuse and falsification of documents during the construction of the Lazdynai Basin.
G. Barcys, who also runs several other Icor companies, emphasized that he had an “accounting, economics education” and stated that his objective was not the development of the business, but its orderly closure. At the same time, he assured that the closure of other Icor companies under his leadership is not contemplated.
The fact that the volume of Axis Power activities is reduced to a minimum is also indicated in the 2019 financial report submitted to the Center of Records. At the beginning of 2019, Axis Power had 174 employees, but currently, according to Sodra, there are six left.
In 2019, Axis Power’s revenue more than doubled to $ 9.78 billion. The net loss amounted to 2.6 million euros. euros. Axis Power continued to operate at a loss in 2018.
The company says it is building energy and other complex construction and special-purpose power and technology projects.
The Icor Group is indirectly managed by Andrius Janukonis, Gintautas Jaugielavičius and Linas Samuolis through companies in Lithuania and Estonia.
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