Financial Services, Lithuania, Port, Transport
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Thursday, 28.03.2024, 15:58
Lithuania's troubled shipper LJL suffers EUR 7.3 mln loss in 9 months
LJL's equity capital at the end of September amounted to 10.097 million euros, according to the financial statements of Lietuvos Gelezinkeliai (Lithuanian Railways) for the three quarters.
The state railway company in late September took over a 56.66% stake in LJL from the Transport Ministry in a deal worth 469,500 euros.
The CEO of LJL, which has no money to pay its suppliers and employees, earlier this week asked a court to open bankruptcy proceedings, but he withdrew his petition a day later, saying that SEB Bankas, the shipper's biggest creditor, had come up with a proposal to resolve the financial situation in the company.
LJL is quoted on the Secondary List of the Nasdaq Vilnius stock exchange, but trading in the shares has been suspended.