RIGA, Jan. 5 (Xinhua) — A court in the southwestern Latvian city of Liepaja on Tuesday threw out a request to declare KVV Liepajas Metalurgs steelmaker insolvent over an outstanding six-figure debt.
The insolvency lawsuit had been filed by Elme Messer Metalurgs, an Estonian-owned producer of industrial gases which has been supplying oxygen to KVV Liepajas Metalurgs.
The ruling of the Liepaja City Court can be appealed within 20 days.
KVV Liepajas Metalurgs board member Igor Talanov said that the ruling was fair and that the company definitely was solvent even though it had suffered in the metal industry’s crisis.
Justice Maija Jansone dismissed Elme Messer Metalurgs’ claim because the two parties are engaged in an ongoing dispute …
Read the full article at: http://www.globalpost.com/article/6715050/2016/01/05/insolvency-lawsuit-against-latvias-kvv-liepajas-metalurgs-steelmaker