Klaipedos Juru Kroviniu Kompanija (Klaipeda Stevedoring Company, or Klasco) has announced that it is putting its investment and expansion plans on hold in light of the worsening economic outlook in the country. The company had plans to launch the construction of a vegetable and fruit terminal and a meat and fish cold storage facility this year. "We are curbing investment spending in view of our revenue projections. Our partners -- cargo owners and suppliers -- have also asked us to suspend the project," the Verslo Zinios business daily reported quoted Klasco CEO Valentinas Greiciunas as saying.
Under the ruling an Estonian court made on Jan. 16, Ernst & Young Baltic has the right to demand seizure of the assets the Latvian firm SIA Alta Capital Partners has in Estonia. The lower-level Harju County Court took the position that a 2007 ruling by the Riga district court to secure Ernst & Young Baltic's lawsuit against Alta Capital Partners can be implemented in Estonia as well. Alta Capital Partners can appeal the Harju County Court ruling within one month.