Ž. The company headed by Zvagulis is in bankruptcy

by times news cr

This was first reported by the news portal Alfa.lt.

Information for the news portal lrytas.lt Lina Nemeikaitė, assistant to the chairman of the Vilnius District Court, also confirmed it.

“In 2024 September 4 The Vilnius District Court examined the case of the manager of the plaintiff’s small association (hereinafter – MB) “Dvi plytos” Ž. Ž. statement regarding the initiation of bankruptcy proceedings against the defendant MB “Dvi plytos”.

in 2024 July 16 plaintiff MB “Dvi plytos” manager Ž. Ž. applied to the court, asking to open a bankruptcy case against the defendant MB “Dvi plytos”. The plaintiff stated that the defendant’s main field of activity was construction work; the company carried out repair work on the premises, looked for materials according to the needs of the customers”, the comment reads.

The court decided to appoint the closed joint-stock company Insolvio as the insolvency administrator.

“According to Article 21, Paragraph 2 of the Law on Insolvency of Legal Entities of the Republic of Lithuania (hereinafter – JANI), a bankruptcy case is filed if a legal entity is insolvent and no restructuring case is filed against it. According to the data of the court information system LITEKO, there are no civil cases pending in Lithuanian courts in which property claims are filed against the company or the company, and no restructuring case is filed against the company (CPC Article 179, Paragraph 3). From the data presented in the case, the court concluded that the company’s obligations to creditors exceed the value of its assets. In addition, taking into account the fact that there is not a single employee in the company, it can be concluded that the company no longer carries out economic and commercial activities. After assessing the established circumstances, the court concluded that the defendant is insolvent, she cannot fulfill her financial obligations on time and there is no reason to conclude that the defendant is viable – no data on the ongoing economic and commercial activities that would allow her to fulfill her obligations in the future have been established, therefore MB Dvi plytos is filing a bankruptcy case (Part 7 of Article 2, Part 2 of Article 21 of the Civil Code)”, states the attack sent to the portal.

As announced by the portal Rekvizitai.lt“Dvi plytos” owes “Sodra” more than 7 thousand. euros.

The company was founded in 2020, engaged in construction sector activities.

According to the data provided by the portal, although initially the company’s activities were not bad, it encountered difficulties in 2022, when the company’s profit fell sharply.

According to the information of the Register Center, the liquidation procedure of “Dvi plytos” was started last year.

“In September of last year, the liquidation procedure was started for the small association on the initiative of the Center of Registers due to the annual financial statements not submitted on time. However, after eliminating these circumstances, i.e. submitting the missing financial statements, the liquidation procedure was canceled by a court decision last December,” – to the portal lrytas.lt commented Mindaugas Samkus, representative of the Register Center to the media.

He added that one of the cases in which the Center of Registers can initiate the liquidation of a legal entity is when the legal entity is late in submitting its annual financial report for more than a year.

“Until now, the company has not submitted its financial statements for the year 2023, but since most legal entities have to submit their financial statements by June, the aforementioned one-year delay has not yet passed,” said M. Samkus.

2024-09-05 18:34:01

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