Ventbunkers in negotiations with LITASCO
AS Ventbunkers
On January 28th, 2011 - the AS Ventbunkers press service published a press release about the current situation with the AS Ventbunkers client LITASCO.
As the press release expresses, the terminals of Ventbunkers are currently blocked by LITASCO. This, by not taking over their oil from the Ventbunkers terminals and thus blocking the terminals.
This situation is now ongoing since christmas last year - and costs Ventbunkers millions every day. A loss in turnover and profit which will be difficult to compensate during 2011.
The situation began, when LITASCO claimed to have paid 20 mio. US-dollars for Ventbunkers services - to unknown bank accounts. LITASCO refused to disclose where they have made the payment to. Funny.
Ventbunkers accordingly closed contracts with other customers for the future. This did not seem to have been anticipated by the LITASCO management. Now they are trying to "convince" Ventbunkers to continue, using "brute force".
As russian company .... business ehtics seem to be different still - in Russia. I would say - if you have to do business with Russians - be very very very careful.
Read the full AS Ventbunkers press release 2011-01-28
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