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"Yelizovo Glassworks" officially declared bankrupt

Post Time:Jan 19,2016Classify:Company NewsView:355

Economic Court of Mogilev region opened bankruptcy proceedings in respect of the Belarusian-Austrian joint closed joint-stock company "Glass Elizovo."

Bankruptcy proceedings - a stage of bankruptcy procedure, which is designed to satisfy the claims of creditors and to protect their interests. Since the announcement of bankruptcy proceedings management, founders and owners of the company are excluded from the management. The Court shall appoint a crisis manager.


As the Supreme Court of Belarus, as a result of consideration of the submitted documents in open court established the presence of the debtor's accounts payable in the amount of 598 billion rubles, of which - about 350 billion rubles of debt on loans, the rest - debt to other creditors. Arrears of wage payments and no.


During the last two years, the company's solvency ratios were below the standard, and therefore at the moment the debtor is not able to pay off its creditors and is insolvent.


CJSC "Yelizovo Glassworks" is registered in the Unified State Register of Legal Entities and Individual Entrepreneurs December 15, 1997. Shareholders of the Company are: GmbH Foton (Austria) - 65% of the shares, and the State Property Committee of the Republic of Belarus - 35%. Core business - the production of glass. Payroll number of employees is 389 people.


Upon review of the submitted documents the court concluded that there are grounds for opening of bankruptcy proceedings against the debtor in accordance with Art. 84 Law "On economic insolvency (bankruptcy)".


The next court session is scheduled for 12 April.

China Glass Network

Source: http://www.steklosouz.ru/news/show&id=3739Author: shangyi

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