AB SNAIGĖ applied to the court for the initiation of a restructuring case

AB "Snaigė" (the "Company") informs that, in order to implement the restructuring according to the draft restructuring plan of the Company approved by the extraordinary general meeting of the Company’s shareholders on 23 June 2022, on 1 July 2022 the Company applied to the Kaunas District Court (the "Court") with a request to initiate the Company's restructuring case.

After the court decides to initiate the Company's restructuring case, the Company's restructuring plan should be coordinated with the Company's creditors specified by LILE and submitted to the Court for approval within the next 6 months. The Court should then issue a ruling on the approval of the restructuring plan within the following 14-day period. The Company will inform about the further most significant decisions of the Court in the restructuring process of the Company separately.

Managing Director

Mindaugas Sologubas

Phone

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