Kaunas Regional Court did not approve restructuring plan of AB Snaigė

On 4 April, the Kaunas Regional Court did not approve the restructuring plan of AB Snaigė. Although it was approved by a majority of both the company’s shareholders and the majority of the company’s non-mortgage creditors, the mortgage creditor UAB Easy Debt Service voted against this plan, the company said in a press release.

In the opinion of Mindaugas Sologubas, manging director of AB Snaigė, the restructuring plan is an opportunity for the company to solve temporary financial difficulties, optimise and restructure the company’s activities so that the company can meet its obligations to all creditors as soon as possible. “The restructuring plan was in the interests of all creditors,” says Sologubas.