June 2nd, 2016 
Holly Birkett Dry Cargo, Europe, Finance and Insurance 0 comments
Klaipeda County Court decided to declare the company declared Lithuanian Shipping Company bankrupt on May 30 and the company has gone into liquidation.
The companys creditors will meet with its bankruptcy administrator in Vilnius on June 10 to discuss the liquidation process, claims and the sale of LSCs two remaining vessels.
The bulk carriers failed to sell at auction in March and remain in limbo. Bidding for Venta (pictured; 24,200 dwt, built 1995) and Raguva (16,900 dwt, built 1995) failed to meet the vessels respective reserve prices of 1.9m and 1.6m. Raguva is still in C…
Read the full article at: http://splash247.com/lithuanian-shipping-company-goes-into-liquidation/