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Meanwhile, Prime Minister Valdis Dombrovskis criticized the company's shareholders, who have shown little or no interest in improving the situation at the company, while at the same time making it a priority to squabble with one another.

As reported, Liepajas metalurgs must be doing everything in its power so the company's legal protection plan could be improved and harmonized with creditors by August 26, as the company's new council chairman Guntars Vilnitis says in an interview with the Nozare.lv portal.

"The council's task number one will be to meet with the company's creditors, including the largest creditor – the State Treasury. The time for these meetings has not yet been set, but we must do everything in our power in the remaining month to harmonize the legal protection process plan with creditors so it could be approved by the court," said Vilnitis.

It is important that the State Treasury's conditions are included in the plan, because they may differ from the conditions set by the Italian bank UniCredit S.p.A., added Vilnitis.

LETA also reported, Liepaja Court has ruled in favor of Liepajas metalurgs’s request to extend the deadline for drafting and harmonizing the company's legal protection plan for one month, Liepaja Court confirmed to LETA on Monday.

Liepaja Court had received the request last week, along with an explanation that more time is necessary to fine-tune the previous draft plan; also – to meet the interests of creditors to the maximum.