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Nov 07, 2013 (newstodate): Lithuania's Prosecutor General has raided the headquarters of the bankrupt carrier flyLAL to verify allegations that its top management illegally emptied the company for assets prior to the eventual grounding.
Filing for bankruptcy in January 2009, flyLAL allegedly moved assets into other companies within the flyLAL Group, renaming it Avia Solutions Group that now comprises companies such as FL Technics, the travel agency BPC Travel, Baltic Aviation Academy, Avia Asset Management, and Small Planet Airlines.
The demise of flyLAL left an unsecured debts pile with creditors including Vilnius Airport, Oro Navigacija, Lithuania's airnav services provider, and banks.
The Prosecutor General's office has ordered pre-trial investigation of a total of 17 former flyLAL executives including the former flyLAL chairman of the board.
Filing for bankruptcy in January 2009, flyLAL allegedly moved assets into other companies within the flyLAL Group, renaming it Avia Solutions Group that now comprises companies such as FL Technics, the travel agency BPC Travel, Baltic Aviation Academy, Avia Asset Management, and Small Planet Airlines.
The demise of flyLAL left an unsecured debts pile with creditors including Vilnius Airport, Oro Navigacija, Lithuania's airnav services provider, and banks.
The Prosecutor General's office has ordered pre-trial investigation of a total of 17 former flyLAL executives including the former flyLAL chairman of the board.