ASA KINDLUSTUS

ANNOUNCEMENT

01.06.1999

 

Since part of ASA Kindlustus technical resources are invested in AS 

Maakri Ehitus bonds, we hereby announce that AS Maakri Ehitus and SRV 

Drasser failed to reach an agreement to avoid initiation of the 

bankruptcy procedure of Maakri Ehituse AS. The court will decide on the 

bankruptcy procedure of Maakri Ehitus on June 7,1999.

 

In order to end the bankruptcy procedure started pursuant to article 1 

of section 1 of §15 of the Law of Bankruptcy, ASA Kindlustus submitted 

to the Tallinn City Court (Tallinna Linnakohus) on 31.05.1999 an 

underwriting obligation to Maakri Ehituse AS liabilities to SRV Drasser 

OÜ. ASA will underwrite the liabilities of Maakri Ehituse AS in total 

amount of up to 8.124 million EEK. The underwriting obligation will end 

in case a petition in bankruptcy of Maakri Ehituse is filed.

 

 

Information: +372 64 40 542

Nadezda Tarmak