Estonia, Transport

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Leedo seeking bankruptcy of Saaremaa Laevakompanii

BC, Tallinn, 08.10.2018.Print version
A holding company of former Estonian ferry tycoon Vjatseslav Leedo is seeking the bankruptcy of Saaremaa Laevakompanii (Saaremaa Shipping Company, SLK), the entity that used to be responsible for subsidized ferry connections to Estonia's large western islands for decades, reported LETA/BNS.

The holding company of Leedo, Holostovi Kinnisvarahaldus, has filed with a court a petition for the bankruptcy of Saaremaa Laevakompanii, regional newspaper Saartee Haal said.

The CEO of Saaremaa Laevakompanii, Tonis Rihvk, said that the company is in good enough shape to settle the claims of creditors.


"The company's standing is trusted even by the Tax Board, whose claim has been rescheduled and is being settled in accordance with the schedule," Rihvk said.


The CEO added, however, that the actions taken by erstwhile partners are undermining the activities and economic standing of SLK.


"A bankruptcy proceeding should bring clarity into this dispute, maybe at present someone is hoping to get more out of this then they are entitled to," Rihvk said.


Leedo, who owns both companies, said that the petition was filed in order to put an end to speculations about incorrect decisions and indebtedness and to move forward with new undertakings. He, too, said that the shipping company has enough money to meet the claims of creditors.



The bankruptcy petition is set to be reviewed by court in the Kuressaare courthouse next Friday.







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