© EuroFootball.com
The football club "Atlantas" avoided the brink of bankruptcy and reconciled with the creditors who sued them.
At the beginning of this week, the Klaipėda District Court approved a peace agreement between the public institution "Atlantas" football club and its creditors. The same decision confirmed that the club owes over 220,000 litas to the creditors.
One company sued the club for unpaid repair work amounting to fifty thousand litas. Later, when the lawsuit and bankruptcy claim were already in court, the company "Fortūna Travel" also filed claims against the football club. According to representatives of this company, the public institution "Atlantas" football club is avoiding paying back over 31,000 litas.
The club acknowledged the debts. In mid-March, the bankruptcy case was filed against "Atlantas," a bankruptcy trustee was appointed, and later the creditor claims were confirmed.
After more than a month of legal battles, the parties presented a peace agreement to the court and requested the civil case to be dismissed.
On the last day of April, the court approved the peace agreement. According to it, the first-tier financial claims amount to just over 2,000 litas, the second-tier claims reach 80,000 litas, and the third-tier claims are nearly 140,000 litas.
The court ruling, which can still be appealed within 7 days, states that all creditors listed in the peace agreement granted the debtor discounts of 20-50%. Some creditors did not grant discounts, so final debt amounts were confirmed in the peace agreement.
The creditor claims are satisfied from the shareholder loan granted to the "Atlantas" football club. The claims of all creditors must be settled within 60 days from the approval of the peace agreement. Individual repayment terms are set for the creditors who did not provide discounts.
