Akmenės Cementas fighting legal battle over Euro40m loan repayment

Print this page

Lithuania: Akmenės Cementas is fighting a legal battle over the repayment of a Euro40m loan it took out in 2007. The cement producer started negotiating in September 2016 with its creditors to have the repayment deferred by three years, according to the Baltic Business Daily. However the deal was blocked by the Baltijos Kredito Sprendimai, which inherited the portfolio of the bankrupt bank Snoras. On 15 June 2017 the Vilnius Regional Court temporarily banned Akmenės Cementas’ six creditors from taking loan repayments from its accounts with the exception of interest payments.

Akmenes Cementas built a new Euro110m production line in late 2014. The company used its own funds and the loan to finance the project.

Last modified on 21 June 2017

URL: https://globalcement.com/news/item/6241-akmenes-cementas-fighting-legal-battle-over-euro40m-loan-repayment

© 2019 Pro Global Media Ltd. All rights reserved.