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The Marijampolė District Court decided this Tuesday to take a break of almost a week, during which the businessman must present the primary documents that will support credit claims and other necessary materials.
The court granted the request of some creditors and ordered V. Kučinskas to personally attend the hearings in the future. The businessman was represented by his lawyer on Tuesday.
Laurynas Lukošiūnas, a lawyer representing Kuchinskas ‘largest creditor, Alfa Bank of Russia, emphasized at the meeting that V. Kuchinskas’ personal involvement in the process was necessary.
‘The question in this case is about the integrity of the person, (…) it will be necessary to assess whether the applicant is behaving honestly or dishonestly. In essence, almost all creditors raise the issue and judge that he acted dishonestly, committing certain unfair practices that were also found by the courts. The applicant has not commented on these circumstances, ”said L. Lukošiūnas.
“We think you should come and discuss all those things in person.”
Tadas Blažys, a lawyer for the Lithuanian fertilizer marketing company Belor, controlled by Germany’s Belor Eurofert, noted that V. Kučinskas had provided incomplete data on creditors’ claims and a list of debtors, so the information on the situation the entrepreneur’s financial statement is incomplete.
Furthermore, according to T. Blažis, V. Kučinskas and their group companies have repeatedly tried to transfer assets abroad, reducing their stake so that they no longer have control.
L. Lukošiūnas also stressed that V. Kučinskas must update the data of the lists of creditors and debtors.
“We are deciding here not only on the initiation of the bankruptcy procedure, but also on the reality of the restoration of the solvency of V. Kučinskas. In the absence of objective data, it is impossible to talk about the correct solution of this bankruptcy process,” he explained L. Lukošiūnas.
The next court hearing is scheduled for Monday, May 31.
V. Kučinskas has indicated that his debts with creditors amount to 61.8 million. EUR, and your monthly income – 1.5 thousand. euros. The businessman owes more to the Russian bank Alfa Bank: 38.6 million. 10 million euros. € 4 million for the Sberbank of Russia and € 4 million for Belor. euros.
At the end of 2020, the Kaunas Regional Court filed a bankruptcy case against Arvi ir ko. Bankruptcy proceedings were also brought against the group companies Arvi kalakutai, Arvi fertis, Rietavas veterinarinė sanitarija, Marijampolės pašarai.
