“Plaintiff RA (Raimundas Adomaitis, manager of Beta Media – ELTA), as the manager of the defendant closed joint-stock company Beta Dovana, applied to the court, requesting to open a bankruptcy case against the defendant Beta Dovana UAB, because the company is insolvent, i.e. the company’s obligations exceeds its assets, the company has no possibility to continue operating. Vilnius District Court in 2024 August 5 decided to file a bankruptcy case against the defendant closed joint stock company “Beta Dovana”, V. Jurkevičiūtė’s comment to Elta states.
“The court, after evaluating the data gathered in the case about the defendant’s financial situation, i.e. that the available liabilities to creditors significantly exceed the available assets, as well as after evaluating the arguments and data presented to the court about the prospects of the defendant’s commercial activities and settlements with creditors, concluded that UAB “Beta Dovana” cannot to fulfill property obligations on time, that is, she is insolvent, as a result of which a bankruptcy case is being filed against her,” she noted.
The court ruling for this sentence entered into force in 2024. August 14
At that time, the request to consider the Beta Media bankruptcy case was started on August 13 of this year, but the decision has not been made.
RA, the manager of Beta Media UAB, applied to the court with a statement regarding the initiation of a bankruptcy case against the defendant Beta Media UAB, it is indicated that the company faced changes in the competitive environment, changes in consumer habits, and the consistently growing costs of digital channels in the period after the Covid-19 pandemic. with financial difficulties that no longer allow fulfilling obligations to creditors”, informed V. Jurkevičiūtė.
“The court decided that because the defendant’s obligations to creditors are increasing, exceeding the value of the property, the defendant does not carry out real economic and commercial activities, after determining the defendant’s overdue financial obligations. Without establishing the data in which way the defendant intends to cover the existing financial obligations to the creditors, the court decides that the defendant cannot fulfill the obligations on time and the inability to pay the debts is not temporary, therefore the defendant is considered insolvent and the defendant is filed for bankruptcy”, the comment states.
ELTA reminds that the company Beta Media, which manages the online shopping platforms beta.lt and grupinis.lt, announced bankruptcy at the beginning of June.
The company argued for the need to stop operations due to the difficult situation in the e-commerce services market that arose after the pandemic. However, the head of the company, Raimundas Adomaitis, announced that he had received accusations of financial crimes, although, according to him, the company’s bankruptcy was part of natural market processes.
The Vilnius District Prosecutor’s Office also announced that it has started a pre-trial investigation into the suspected fraud of the company “Beta Media”
Closed joint-stock company “Beta Media” was founded in 2016, but before that, as announced, it operated under a different name. In 2022, the company earned almost 232.34 thousand. EUR profit and received 1.7 million euro income. However, in the year of the pandemic, 2020, the company suffered 141 thousand EUR loss, and its income amounted to EUR 1 million. euros.
2024-08-20 10:25:05