Lekpas, a cargo transportation company based in Lithuania, has entered bankruptcy proceedings following a court decision that deemed it unable to meet its financial obligations. The company was driven to declare insolvency due to a significant debt of 28,300 euros owed to a transport services company, Brigema, based in Juodkrantė. The Klaipėda District Court concluded that Lekpas could not be restructured and, therefore, initiated bankruptcy proceedings in August of last year after the company's director acknowledged its insolvency.

The recent ruling by the Klaipėda court has now validated the bankruptcy declaration and the company's commitments to creditors, which amount to a staggering 2.88 million euros owed to various entities both in Lithuania and abroad, inclusive of a substantial amount to the state institutions like the Social Security Fund (Sodra) and the Tax Inspectorate. Furthermore, Lekpas has left nearly one hundred of its employees unpaid, intensifying the concerns regarding the financial and social impact of this company's downfall.

The ramifications for the employees and creditors are significant, as many of them face uncertainty and potential financial hardship as a result of the company's collapse. With debts accruing to various sectors, the case highlights the vulnerabilities within the transportation industry in Lithuania and raises questions about financial oversight and the support available for affected workers in similar situations.