NEWS FLASH
Adria Airways’ bankruptcy administrator has dropped proceedings to hold one of the former national airlines’ CEOs, Sven Kukelmelk, responsible for the company’s collapse. Mr Kukelmelk from Estonia joined Adria just months before the airline declared bankruptcy and was the carrier's CEO jointly with Holger Kowarsch. Last year, the bankruptcy administrator filed a 78-million-euro lawsuit against the former company's managers and owners for the damage they caused to its creditors by financially draining the airline. However, in his recent regular report, Adria’s bankruptcy administrator noted, "The court issued a decision by which it asks the bankruptcy administrator to submit the translation of documents into the Estonian language or to deposit an advance of 45.000 euros for the translation of documents for defendant Sven Kukelmelk (manager only around four months before the start of the bankruptcy), otherwise court proceedings against Sven Kukelmelk would cease. According to available information and assessments, the role played by Sven Kukelmelk from Estonia was relatively small (if any) in causing the damage that is part of the lawsuit. For this reason and for budgetary purposes, we decided not to go ahead with these large costs. If necessary, the procedure can be reversed and the aforementioned case can still be re-filed”.
When Adria declared bankruptcy in October 2019, it owed tens of millions of euros to its suppliers, leasing companies, airports, airlines, employees and other creditors. The lawyers hired by the bankruptcy administrator studied the forensic audit of Adria and found that some managers had violated insolvency legislation. While knowing Adria was insolvent, they did not ask owner 4K Invest to supply it with fresh capital as promised nor declared bankruptcy. Instead, they addressed Adria's financial issues with "problematic bookkeeping tricks". For this reason, they are liable to pay the difference between the claims and the proceeds from the bankruptcy estate sold. Lawsuits filed against former CEOs Arno Schuster and Holger Kowarsch are ongoing.
Hahahahahahahaha, 45.000 euros for translation. No translation, no case. "Democracy and rule of law" in its full meaning. "Market economy" created for crooks and criminals in its full meaning as well. Make me puke.
ReplyDeletePotpuno ste u pravu! To je sto bi se narodno reklo "pojela maca" ...
DeletePozdrav if you read the documents you will see the administrator was free to supply his own translation at whatever cost he can find. But you love a good conspiracy theory so you ignored that bit.
Delete@ 13:34
DeleteIt's not a conspiracy. It's corruption.
@13.34
Delete"Corona", flu, "disappearing " literally overnight, immediately after Ukraine case started, yeah, calling it pLandemic, it's pure conspiracy theory
Corruption and incompetence in OU I talk about most of the time, pure conspiracy as well.
Misetic, handing over croatian market, with OU to feed LH, pure conspiracy
Same guy, double leasing Q400, by his company, just conspiracy, nothing to do with real life
Adria, let went bankrupt by corrupt politicians, just another pure conspiracy
Legal system where rich are more equal then poor, pure conspiracy, once again.
So, my friend, instead accusing me to love conspiracy theories, I suggest you open your eyes wide and clear your mind of toxic propaganda influences
"Legal system where the Rick are more equal than the poor"
DeleteDo you not realise your whole comment here is about THE STATE against a single person, not some poor villager against a multinational corporation or whatever scenario you have in your head
And if you are so clever, how come you missed to realise that my statement about rich and poor in legal system is general statement about general conditions and general situation in legal systems of the "Free World" (hahahaha), whereby I never ever mentioned particular Adria case and particular CEO individual?
DeleteThe good old witch hunt. Is it really so difficult to lead an airline to a bankruptcy? I would say no, it’s difficult to keep it flying. No case in relation to Adria, they had losses for years, under different owners and different CEO’s.
ReplyDeleteWell, it seems you didn't follow Adria under 4K... this was not "leading an airline towards bankrupcy", it was pure criminal, stealing money from employees and suppliers until the black hole is big enough to implode.
DeleteActually I did, but apart from general statements, I never saw any evidence or half evidence supporting the story about some crime. The company was already bankrupted at the time it was sold - it was sold for a kind of 10 EUR or something like that, also with a good reason. I would appreciate if somebody could explain the part that I’m obviously missing. Thanks.
Deletehttps://www.exyuaviation.com/2020/06/criminal-investigators-search-adria.html
DeleteAnd here we go again! Adria 2.0 is coming! How lucky are we, Slovenians, to have such a high quality, functioning country. I'll be so happy every time I drive to other airports, and God knows where, that I can pay for Adria 2.0. Yupeeee!
ReplyDeleteAnd I just can not wait for a system in our country where everyone can spend tax money how they want! Want an airline? Pay for it! Want new trains? Pay for it! Want new roads? Pay for it! I never use trains and 95% of our roads so the state should not use my tax money. Now I am an angry worried taxpayer!
DeleteThat's a joke! The collapse is finally due to a guinea pig. Why doesn't the consolidator ask PG who signed that financial audit report based on what they signed as compliant?
ReplyDeleteBecause we live in "free World", "market economy" and "democracy" as I've already written in my first post
DeleteBratuškova naj plača teh 45k.
ReplyDelete