Oil Group – Bankruptcy Case

The court granted the request

The order states that on March 19 The Klaipėda Regional Court granted Antanas Urbutis, the convicted former Director of Oil Group, to institute bankruptcy proceedings against the company.

Mr Urbutis told the court that « the company’s all assets and settlement accounts are arrested by bailiffs, so the company does not have the opportunity to continue its operations ».

The liabilities of the company are said to be significantly exceeded by the value of the assets.

In July last year, the court ordered the Oil Group to pay $ 7.9 million to the State Tax Inspectorate (STI). of tax, penalty and default debt.

The company’s liabilities are $ 8.2 million. and its assets are only EUR 1.1 million. euros.

Prior to the final entry into force of the order, Judge Aurimas Brazdeikis of the Klaipėda County Civil Cases Division ordered the seizure of the property and property rights of the Oil Group.

« I can’t answer the special bankruptcy proceedings because it has just opened. Bankruptcy proceedings should usually end in about 1.5 years from the ruling of the ruling. However, there are a wide variety of situations, sometimes for 5 years and more bankruptcy proceedings.

Delayed the entry into force of the penalties

In February this year, the Supreme Court of Lithuania (LAT) finally found the owners and executives of the Oil Group, Artūras and Antanas Urbučius and four other defendants, in the February of this year.

There are many situations, sometimes for 5 years and more bankruptcy proceedings.

To the shareholder of Oil Group or. Urbutis imprisonment for 6 years, sentenced to three years, an. Urbučius is a 4 -year imprisonment that has been delayed for two years and Richard Milvydas, a former commercial director of Klaipėdos Nafta, three years’ imprisonment, obliging him to release it immediately from Kaunas Prison and postpone his sentence for three years.

Former Head of Supply Division of Oil Group Svetlana Popova has been punished for up to 1 year and 5 months, with a single year delay.

According to the LAT, R. Milvydas, as a commercial director of the state -controlled KN Energies (then Klaipedos Nafta), represented the interests of the Oil Group, not by her, and therefore. Urbutis received more than 3 million. a bribe.

For a long time, this case was called the « biggest bribe case ».

As the BNS wrote, the lower courts admitted that. Urbutis was the main crime – more than 12 million. the misappropriation of the Oil Group Group assets, which received almost EUR 11 million in crime. the organizer and coordinator of the assets, the production of fake documents, the production of fake documents, the forgery, the fraudulent accounting of the company and the high value tax.

Law enforcement investigations and litigation in courts regarding the misappropriation of the high value of Oil Group and the legalization of the property received by crime took about 14 years.

The panel of judges left the Court of Appeal last July imprisonment, but has adjusted its decision and delayed the entry into force of the sentences.

Aurimas Brazdeikis / Photo by Rytis Laurinavičius

Defines of process deficiencies

According to BNS, according to Darius Kantaravičius, a member of the Judicial Panel, the sentences were postponed with a number of deficiencies in the proceedings.

« The panel of judges, in order to compensate the convicts, followed the changed legal regulation (…). The current regulation has enabled all three convicts (…)

All assets of the Company and the billing accounts are seized by bailiffs and the company is not able to continue its operations.

According to the SCL, the sentences were postponed in the case that prosecutors were separated by one pre -trial investigation into two: the Klaipėda Regional Court in 2021. In April, the Urbučiai brothers accused the same actions for the second time.

« There is no evidence that the prisoners are in the delay and interfere with it. The duration of the criminal proceedings is too long and is not optimal. Unreasonably except for the pre -trial investigation into two and two separate cases with the accused, both Urbuts were wrongly convicted of one continuous act. »

LAT also reduced the damage awarded to KN Energies to a state -owned court of the Court of Appeal to 105.25 thousand. acknowledging that Oil Grupė and its executives were wasting assets of the company of such extent.

Verdict: In February, the LAT finally found the Oil Group owners and executives Urbučius and four other defendants, but the sentences were « delayed by a number of deficiencies in the proceedings ». / Photo by Vytautas Petrikas

KN Energies for the exclusive right to supply a vacuum gazole from Oil Group for its exclusive right to pay $ 20.884 million. The Company appealed against the judgment of the Court of Appeal not to hear the Company’s complaint.

He was rejected by the Supreme Court.

In addition, nearly 12.5 million brothers and Popova were confiscated. EUR 3 million from Milvydas. euros.

LAT solution is final and not subject to appeal.