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This was confirmed by Aurimas Valaitis, the bankruptcy administrator of Arvi fertis, in BNS.
“All the assets involved in the production of fertilizers were sold, as well as the property and non-property rights derived from the contracts that the bankrupt company was still performing and had concluded,” A. Valalaitis told BNS.
According to the Center of Records, the sole shareholder and administrator of Before, established in June last year, is Rasa Petrikienė. She told BNS that she could comment on the Arvi fertis acquisition on Friday.
All assets involved in the production of fertilizers were sold, said A. Valitis.
According to A.Valaiitis, although the Arvi fertis bankruptcy case was filed in July 2019, legal disputes over creditor claims took place for a long time, some of them have not yet been completed, so it took place the first meeting of the company’s creditors. place only on January 27th.
“Among other issues, the sale of a legal entity was discussed at the creditors’ meeting. The creditors decided to organize the sale, approved a minimum of 7.5 million. Price in euros. (….) As there was an offer of a potential buyer, no other specific offers were received to participate in the purchase during the entire bankruptcy period, a contract was concluded with the buyer who submitted the offer ”, explained A. Valalaitis.
The creditors decided to organize the sale, they approved a minimum of 7.5 million. price in euros, – explained A.Valaitis.
According to him, the creditors’ meeting was convened after approving more than half of the claims of Arvi fertis creditors. At present, its amount is 40 million. for another 20 million euros. claims are pending.
One of Arvi fertis’s creditors, Belor, the Lithuanian fertilizer trading company controlled by Belor Eurofert, is challenging the bankruptcy administrator’s actions in court and has requested interim measures to prohibit the first meeting of Arvi fertis creditors, but the Vilnius Regional Court ruled on January 22. the request was rejected.
Representatives for Belor could not be reached by BNS on Thursday.
According to A.Valaiitis, after the transfer of most of the assets, the Arvi fertis bankruptcy process will continue.
“When the remaining assets of the company are sold, when all legal disputes are over, the court will be offered a decision to terminate the activities of the company and it will be removed from the Registry of Legal Entities,” said A. Valaitis.
At the time of the insolvency proceedings, the sole shareholder of Arvi fertis was the parent company of the group controlled by businessman Vidmantas Kučinskas, Arvi ir ko, and subsequently a part of Arvi fertis was acquired by controversial businessman Žydrūnas Buzas.
At the end of last year, the Kaunas Arvi ir ko Regional Court also filed for bankruptcy. At the end of January, the 15min.lt portal announced that V. Kučinskas had informed his creditors that he would appear in court at the latest in one month, requesting to initiate a personal bankruptcy case.
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