Lithuania’s State Tourism Department does not take responsibility for the collapse of Go Planet Travel, a tour operator that embezzled the money of nearly 1,000 customers, since the regulator’s mandate does not include monitoring credit bureau’s data about the financial situation of tourism companies.
State Tourism Departmen head Raimonda Balnienė
© DELFI / Šarūnas Mažeika

“The Tourism Department has supervised and is supervising this and other 170 outgoing tourism operators within the remit established by legislation. Hence it does not take responsibility for the collapse of this company. Information currently available to the Tourism Department shows that full responsibility for the insolvency of Go Planet Travel and its future bankruptcy shall be borne by the company’s shareholders and former executives who might have been involved in non-transparent activities,” Raimonda Balnienė, the department’s director, told the Lietuvos Žinios daily.

An amendment to the Law on Tourism, which would come into effect in November, should safeguard against similar incidents, she said.

The amendment stipulates, inter alia, that the equity capital of tour operators shall comprise at least half of their authorized capital.

Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Baltic States seek a single regional assessment

Ministers of finance of Lithuania, Latvia and Estonia, the European Commission and NASDAQ appealed...

LMT presents three digital service innovations at Baltic Mobile Congress

LMT (Latvian Mobile Telephone) is the telecommunications market leader in Latvia and a digital service...

CERN is considering the possibility of establishing business incubation centre

Last week, CERN delegation paid a visit to Kaunas University of Technology (KTU) Santaka Valley. The...

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European...

The popular French fashion brand „Gémo“ enters the Baltic States: first store in Lithuania – in 2019

The popular French fashion brand „Gémo“ entered the Baltic States - the first regional store was...