Energy, Legislation, Lithuania

International Internet Magazine. Baltic States news & analytics Saturday, 20.07.2019, 04:22

It will be attempted to dissolve LEO LT

Petras Vaida, BC, Vilnius, 30.07.2009.Print version
If President of Lithuania Dalia Grybauskaite signs amendments to the Law on the Nuclear Power Plant passed by the Seimas, the meeting of shareholders of LEO LT on September 4 will be intended to dissolve the company. Such position was indicated by Energy Minister Arvydas Sekmokas after a meeting with the president.

"The president's stand is clear. This company should not have been established, but if it appeared, it should be liquidated," presidential spokesman Linas Balsys said.


After the meeting, Sekmokas said that it was "really possible" that the president would sign the law amendments. In this case, Grybauskaite's will would be carried out in the shareholders' meeting of LEO LT and it would be attempted to dissolve the company, writes ELTA/LETA.


"I have arrived to the presidential palace with a viewpoint that we have laws that assist the Government and the Energy Ministry to operate and enable them to liquidate the LEO LT. Now we wait for the president's decision. If the president signs the law amendments we will make a decision on the fate of LEO LT on September 4. I think it is rather clear from the president's statements," Sekmokas told journalists.


According to the energy minister, if Grybauskaite did not sign the amendments to the Law on the Nuclear Power Plant, there would be other ways sought to demonopolize the energy market sought.


"I will not speak about these ways in detail now. I think it is too early," Sekmokas said.


According to the energy minister, the new law amendments would establish two essential provisions on the liquidation of LEO LT T. If LEO LT is included in the list of companies of strategic importance to national security, it is enough to have 50% of votes and at least one additional vote in the shareholder meeting so that it would be possible to make decisions unilaterally.


Sekmokas said that the law amendments would also enable the shareholders to dissolve the company.


Grybauskaite intends to announce her decision on the amendments to the Law on the Nuclear Power Plant on Thursday evening.

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