Pēd. atjaunots: 03.07.2024 08:17 (GMT+3)

JSC "Jekabpils cukurfabrika" about present situation

01.09.1999, , RIG

JSC "Jekabpils cukurfabrika" informs that since SIA "Baltic Sugar
Company" starting July has not fulfilled their contract obligations
regarding sugar sales, management of JSC "Jēkabpils cukurfabrika" on
August 16,1999 submitted request to JSC "Latvijas Unibanka" Loan
Committee to extend term of payment for the remnant of credit line in
the amount of LVL 1,4 million.
JSC "Latvijas Unibanka" on August 23,1999 claimed "Jekabpils
cukurfabrika" repayment of remnant loan. On August 24,1999 bailiff
ensured fulfilment of "Latvijas Unibanka" claim on no contestation
basis by distrait of sugar in the amount of LVL 1,44 million in JSC
"Jekabpils cukurfabrika" warehouse.
On the August 24,1999 management of JSC "Jēkabpils cukurfabrika" in the
meeting with Minister of Agriculture A.Kalvitis informed him that in
the present situation it is impossible to begin preparation of the
factory for refinement season and management of the factory is
considering proclaiming insolvency if there will not be other solution
presented. Minister of Agriculture offered Government intervention
measures in sugar market. This anticipates state purchasing sugar beets
and refining them and paying costs of refining to factory.
Minister of Agriculture was informed that JSC "Jekabpils cukurfabrika"
has other creditors besides "Latvijas Unibanka" and their actions is
hard to foresee since intervention mechanism does not foresee
fulfilment of factories liabilities towards other creditors. JSC
"Jekabpils cukurfabrika" and Minister of Agriculture agreed on meeting
on the September 2,1999 to seek solution for present situation.

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