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International Internet Magazine. Baltic States news & analytics Wednesday, 20.03.2019, 09:39

Srbijagas claims EUR 8.5 mln from owner of Lithuania's Arvi

BC, Riga, 12.03.2018.Print version
Serbia's state gas company Srbijagas is claiming almost 8.5 million euros from Vidmantas Kucinskas, the owner of Lithuania's fertilizer, fodder, sugar and turkey meat production group Arvi, informs LETA/BNS.

This is stated in a ruling issued by the Lithuanian Court of Appeals, which on Thursday dismissed an appeal filed by Arvi ir Ko.

The Court of Appeals upheld the Kaunas regional court's decision of last October to grant Srbijagas' request for a freezing order on shares in Arvi Kalakutai (Arvi Turkeys), Lietuvos Cukrus (Lithuanian Sugar) and Rietavo Veterinarine Sanitarija.

According to the case file, Arvi ir Ko sold the profitable companies to Cyprus-based Hofenberg Limited and IBI Innovative Bio Industries.

The Court of Appeals in early March froze shares in the same companies at the request of Russia's Alfa Bank, which is claiming almost 20 million euros from Kucinskas.

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