RusBankrot
We know everything about bankruptcy
24/11/2024
Sunday
THIS DAY IN HISTORY:
24 November 
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
24 November
1970 The United States and the USSR ratified the nuclear non-proliferation treaty.
1970 The Central Committee of CPSU restored the national autonomy of the Kalmyks, Karachais, Balkars, Chechens and Ingush.
1970 Charles Darwin published The Origin of Species - the first edition was sold out in a day.
Lithuanian railways facing the threat of bankruptcy
Lietuvos geležinkeliai (‘Lithuanian Railways’) has all chances to go bankrupt if a company from Belarus files a claim with an international arbitration court. A major partner of the railway company, Belaruskalium, will do this if the Lithuanian side stops the transit of potash fertilizers supplied to the port of Klaipeda to buyers from many countries of the world.
The head of the Lithuanian company Mantas Bartushka recently announced the threat of insolvency. According to him, at the moment, the company is not going to stop transit, despite the sanctions that were previously imposed by the American partners of Lithuania in the person of the United States and Canada. They entered into force on December 8, but, according to sources, back in November, Belaruskalium managed to make an advance payment for transit. This allows the company to legally continue to use the Lithuanian railway service until at least the beginning of 2022.
Bartushka said that the authorities may decide to stop the transit, thereby showing solidarity with Great Britain and the United States, but this will inevitably entail an appeal by the Belarusian side to the court.
The information that the transit had been prepaid in advance excited the Lithuanian politicians in earnest. In particular, two government ministers announced their possible resignation at once - Foreign Minister Gabrielus Landsbergis and Head of the Ministry of Communications and Transport Marius Skuodis. The latter even demanded to check all the transactions of the country's strategic enterprises, including the state-owned railways.
Lithuanian Prime Minister Ingrida Šimonyte has reportedly not yet decided whether to dismiss the ministers who failed to control the financial transactions of the state-controlled company. At the same time, the most active criticism of the inaction of the two ministers comes from the Lithuanian Party of Labor. Its leader, Ieva Kacinskaite-Urbonene, calls the incident a betrayal of the international partnership and the Euro-Atlantic alliance, threatening to demand the resignation of Simonyte.
Igor Udovitsky, the major shareholder of the BKT company, which is engaged in port transshipment of goods received from Belarus, expressed a different position.
The head of the Lithuanian company Mantas Bartushka recently announced the threat of insolvency. According to him, at the moment, the company is not going to stop transit, despite the sanctions that were previously imposed by the American partners of Lithuania in the person of the United States and Canada. They entered into force on December 8, but, according to sources, back in November, Belaruskalium managed to make an advance payment for transit. This allows the company to legally continue to use the Lithuanian railway service until at least the beginning of 2022.
Bartushka said that the authorities may decide to stop the transit, thereby showing solidarity with Great Britain and the United States, but this will inevitably entail an appeal by the Belarusian side to the court.
In this case, Belaruskalium will demand that the Lithuanian railway operator reimburse the lost income.
According to the head of the company, even partial satisfaction of such a claim will threaten the company with billions of dollars in damages and subsequent bankruptcy.The information that the transit had been prepaid in advance excited the Lithuanian politicians in earnest. In particular, two government ministers announced their possible resignation at once - Foreign Minister Gabrielus Landsbergis and Head of the Ministry of Communications and Transport Marius Skuodis. The latter even demanded to check all the transactions of the country's strategic enterprises, including the state-owned railways.
Lithuanian Prime Minister Ingrida Šimonyte has reportedly not yet decided whether to dismiss the ministers who failed to control the financial transactions of the state-controlled company. At the same time, the most active criticism of the inaction of the two ministers comes from the Lithuanian Party of Labor. Its leader, Ieva Kacinskaite-Urbonene, calls the incident a betrayal of the international partnership and the Euro-Atlantic alliance, threatening to demand the resignation of Simonyte.
Igor Udovitsky, the major shareholder of the BKT company, which is engaged in port transshipment of goods received from Belarus, expressed a different position.
In his opinion, transit cannot be stopped in any case, since Lithuania is a member of the WTO.
The country has ratified many international agreements, including the UN Convention on the naval law. The agreement provides transit guarantees for those countries that do not have their own access to the sea. What is more, freedom of transit of goods is established by three other bilateral agreements between Lithuania and Belarus. 13.12.2021
