County court declared AS Via Concept bankruptcy

Harju county court made a ruling on 20.05.2009 with what AS Via Concept
bankruptcy was declared. Application for declaration of bankruptcy was filed by
debtor AS Via Concept to Harju county court on 24th of March 2009. 

Court decided that debtors application for declaration of bankruptcy shall be
satisfied because due to collected and investigated evidence at the court
hearing it was decided that AS Via Concept is insolvent and insolvency is not
temporary. 

Court ruling named trustee in bankruptcy former interim trustee Indrek Lepsoo.
Court designated and ordered payment from bankruptcy estate to interim trustee
for remuneration of a trustee 26 400 kroons (1687, 27 EUR) and for covering
expenses incurred by interim trustee 2726, 50 kroons (174, 26 EUR). 

According to court ruling AS Via Concept known obligations as of initiation of
bankruptcy proceedings (30.03.2009) are at least total of 75 million kroons
(4,793 mln EUR). Interim trustee appraised debtors assets and rights potential
value as of initiation of bankruptcy proceeding 500 000 kroons (31 956 EUR). 

Debtor has the right to file an appeal against court ruling to Tallinn circuit
court in 15 days. 


Allan Viirma
Head of Legal Services 
Telephone 688 6600