On August 09^th, 2018 the Kurzeme District Court in Talsi City, considering an application of SIA “Smare” as the creditor of AS „Tosmares kuģubūvētava”, resolved to announce an insolvency proceedings against AS „Tosmares kuģubūvētava”. Ivars Meļķis is appointed as the administrator of insolvency proceedings.

Day before, namely on August 08^th AS “Tosmares kuģubūvētava” submitted an application to the Kurzeme District Court in Liepāja City regarding to initiation of the legal protection proceedings, clearly demonstrating the willingness and readiness to continue the economic activities of AS “Tosmares kuģubūvētava” and to fulfil its obligations towards creditors.

Considering the decision of the Kurzeme District Court AS “Tosmares kuģubūvētava” actively will cooperate with the appointed administrator to succeed the initiation of the legal protection proceedings into the court with his consent. The legal protection proceedings is a procedure that gives to a good faith debtor, who has come into financial difficulties, the possibility to restore his solvency through the protection measures and methods established by the Insolvency Law.

The management of AS “Tosmares kuģubūvētava” kindly requests the representatives of the mass media to understand the situation and support the recovery process of the company so important to the Liepāja City.

         The Board of Directors of AS „Tosmares kuģubūvētava”
         Phone +371 63401919