Lvovselmash become bankrupt

Lvovselmash become bankrupt

03.03.2016 News

Lvovselmash become bankruptRecently, one of the plants of Lviv, which operates in the agricultural sector, has become bankrupt. This refers to the  agricultural machinery plant “Lvovselmash” that the Commercial Court of Zaporizhia region declared a bankrupt and opened the liquidation procedure.

Last month, in February, the Commercial Court of Zaporizhia region ordered the reopening of the bankruptcy proceedings  of the “Lvovselmash” on the rehabilitation stage in connection with the termination of a settlement agreement regarding outstanding claims of the creditors.

The plant “Lvovselmash” is an  industrial company of the Agricultural Engineering, located in the Railway area of ??the city. In 1945, the Lviv factory of agricultural machines was established on the basis of repair shops in Lviv, in 1946 the plant was fully commissioned.

In June 2013 during the inspection of the plant, prosecutors detected the failure of the management of the plant who didn’t provide a nessesary  storage conditions for the material values of the state mobilization reserves of Ukraine in the amount of 460 thousand UAH, as a result there was abounded a damage to the state, and a fine of 480 thousand to the plant UAH was imposed.

In the last few years the plant has had financial troubles. In 2013, the plant has stopped maintenance of the housing stock, in 2015 sixteen residential buildings of the plant were transferred to municipal ownership.

Source: latifundist.com

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