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The company's insolvency administrator Haralds Velmers had addressed about 60 potential investors and signed agreements with 26 prospective investors.

The attraction of investors was carried out in three steps. First, a list of potential investors was drawn up. Next, the list is curtailed, and the potential investors perform an extensive research about the company, afterward they prepare and submit the final offer. Last, the best offer is chosen and transaction documents prepared and the agreement signed.

One week ago, the testing process of Liepajas metalurgs production equipment was successfully concluded. After several years of work stoppage and the winter period, the electric steel melting furnace and rolling-mill were activated in order to test their functionality. The conclusions indicated that the production equipment is in good shape.

As reported, the total amount of creditors' claims against Liepajas metalurgs have amounted to EUR 200,163,468.55, including EUR 114,839,710.89 claimed by secured creditors, but EUR 85,323,757.66 – by unsecured creditors.