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Agreement with Liglass Trading terminated unilaterally

The State Committee for Industry, Energy and Subsoil Use told 24.kg news agency about the procedure for termination of the agreement with Liglass Trading.

First of all, the government’s decree on termination of the agreement should be issued. A state body, which will notify the Czech side of the decision, will be determined. Most likely, it will be the State Committee for Industry, Energy and Subsoil Use.

The Kyrgyz side does not need to receive a response from Liglass Trading. The contract is terminated unilaterally.

Kyrgyzstan should not return the investor transferred to the treasury account $ 1,147 million.

Recall, Liglass Trading did not fulfill the obligation to pay $ 37 million. Representatives of the company asked for a postponement because of force majeure, but the Prime Minister of Kyrgyzstan Sapar Isakov decided to terminate the agreement.