The assets of Latvias insolvent steel company KVV Liepajas Metalurgs will be sold off by auction, the companys insolvency administrator Guntars Koris has decided, reported LETA on January 15.
The insolvency administrators spokesman Dzintars Hmielevskis told LETA that the decision has been taken because none of the companys potential investors had met the requirements set by the companys secured creditors or provided the required guarantees that would prove their ability to acquire KVV Liepajas Metalurgs in one piece and relaunch its operations.
The administrator will now amend the companys sell-off plan in accordance with the provisions laid out in the Insolvency Law.
Hmielevskis told LETA that the companys assets wou…
Read the full article at: https://eng.lsm.lv/article/economy/business/assets-of-defunct-liepaja-steelworks-to-be-sold-at-auction.a264328/
