Submission of bankruptcy petition

 | Source: Luterma Luterma 

AS Luterma subsidiary AS Via Concept submitted bankruptcy petition to Harju
County Court on 24th March 2009. AS Via Concept will request with the
bankruptcy petition the initiation of bankruptcy proceedings and declaration of
bankruptcy due to permanent insolvency. 

Main causes for insolvency according to AS Via Concept management are general
economic downturn of advertising market in 2008 and impossibility to involve
additional finances from credit institutions. 

The initiation of bankruptcy proceedings will be decided by Harju County Court
during 10 days starting from submission of bankruptcy petition. 


Allan Viirma
Head of Legal Services
Tel 688 6600