As many as 323 partially or fully state-owned agribusiness companies in Belarus are subject to pre-trial financial readjustment, while another 102 farms face bankruptcy, in accordance with the government’s resolution No. 889 dated October 31.
As previously reported, Belarus authorities gave the green light to selling or leasing insolvent state-owned farms and agricultural companies. Belarus’ President Lukashenko issued an ordinance (No. 253 dated July 4) to this effect and made it public on July 8. The document refers to fully state-owned agricultural companies and farms in which the state holds a stake. By October 1, property owners concerned were supposed to make a revision of business plans and decide whether it was expedient to facilitate pre-trial financial readjustment of relevant companies and file for bankruptcy proceedings.
The document specifies the terms of pre-trial financial readjustment and the preferences for property owners to pay off fines, bank credits, utility bills. (Prime-TASS/Business World Magazine)
