Bankruptcy proceedings have been opened against the former cannery in Liozno

March 31, Vitebsk / Sergey Kochetov - BELTA /. The economic court of Vitebsk region has decided to open bankruptcy proceedings in the case of bankruptcy of the communal agricultural unitary enterprise (KSUP) "Lioznenskoye" (former vegetable canning and drying plant), the judge Viktor Shilchenok informed a BELTA correspondent. The case of economic insolvency (bankruptcy) of the enterprise was initiated in December 2008 at the initiative of the inspectorate of the Ministry of Taxes and Duties for Liozno district. As of November last year, the arrears in taxes, penalties, and fines of the former vegetable canning and drying plant exceeded Br2.5 billion. According to the preliminary conclusion of the Department for Rehabilitation and Bankruptcy of the Ministry of Economy of Belarus, KSUP "Lioznenskoye" is recognized as stably insolvent. The enterprise lacks working capital, and the amount of financial obligations exceeds the book value of the debtor's assets. In addition, the commission for the prevention of economic insolvency and bankruptcy under the Vitebsk Regional Executive Committee, which acts as the owner of the enterprise, deemed out-of-court rehabilitation of the enterprise inexpedient. Based on the results of the protective period and the analysis of the financial and economic activities of the enterprise, the court concluded that there were grounds for initiating bankruptcy proceedings against the debtor. An anti-crisis manager has been appointed, who is obliged to conduct an analysis of financial solvency and an inventory of the enterprise's assets, and to form a list of creditors and a register of creditors' claims. In addition, the court has ordered an examination of the financial and economic activities of KSUP. Based on the results of the bankruptcy proceedings, a decision will be made on bankruptcy with rehabilitation or liquidation of the enterprise. KSUP "Lioznenskoye" was established in 1952 as the Liozno vegetable drying plant, which was transformed into the Liozno vegetable canning and drying plant in 1996. The main activities of the enterprise included the production of marinades, vegetable salads, fruit and tomato juices, fruit and berry preserves, dried mashed potatoes, and chips. The enterprise had 4 workshops: canning production, wine production, potato products, and dried potatoes. As of March 1, 2009, the number of employees was 13 people. -0-