Bankrupt chipboard factory assets heading for fourth auction

The auction asking price of assets of the former AS Repo Vabrikud, a chipboard manufacturer declared insolvent last year, has more than halved from the initial asking price of €7 million. The assets are now subject to a fourth auction, and have not found a buyer yet.

AS Repo Vabrikud's trustee said the complete assets required for the production of chipboard, including equipment and real estate property, are for sale via public e-auction. 

VAT is to be added to the price of the equipment.

The total asking price now stands at €3.2 million, €2.2 million of which comprises the real estate component, while the remaining €1 million pertains to equipment, to which €200,000 VAT will be added, making a total of €3.4 million.

Those interested in making the purchase have until April 19 to notify the auctioneers; bankruptcy trustee Andres Hermet said that while there had been interest expressed in the assets, no potential buyers had registered with any of the three preceding auctions.

Repo Vabrikud's factory was located in Lüganuse, Ida-Viru County, and was first announced November 7 last year.

A total of 233 creditors have claims against the company totaling €6.6 million.


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Editor: Andrew Whyte

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