bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 18.01.2017 | Name days: Antis, Antons
LatviaLatvia

Court declares Winergy’s deal worth 35 million as fictive

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUOn Tuesday, 14 July, Ventspils Court declared that Winergy’s deal with Estonian Firepower company worth EUR 35 million is fictive. The court mentioned in the ruling that the true goal of persons involved in the deal was not making a legal transaction, but to mislead other people and avoid debt before Norvik Bank.

The claim in the case was originally submitted by Norvik Bank, asking the court to recognize the deal between Winergy and Forepower for the procurement of generators as void. The bank also asked the court to delete all pledges and mortgages fixed in favour of Firepower. The latter’s mortgage us currently fixed on Winergy’s owned wind park. The bank’s request has been satisfied to the full extent.

«It is interesting to know that the fictive creditor Fireport is registered in Tallinn, Estonia, on the same address as Wind One company (Tartu mnt 7-7, Tallinn). Wind One, on the other hand, serves as an investor for Winergy and is indirectly owned by fictive investor Indrek Kuivallik, who tried blackmailing the Latvian state with a an investment dispute. It has also been proven that Firepower is owned by Andrus Peterson – the same man who formed Winergy and later attracted an ‘investor’ Indrek Kuivallik. All of these facts cast a very bad shadow on the so-called Winergy investment dispute. Truth continues to prevail, but there is still a long way to go before interests of Norvik Bank and its clients are fully complied with,» – explains the bank’s governor Oliver Bramwell.

The first time the aforementioned case was handled by Ventspils Court was during Winergy’s legal protection process, which was meant to avoid having to coordinate the plan with Winergy’s largest creditor – Norvik Bank. Although the procurement contract between Winergy and Firepower provided for 13 generators worth EUR 35 million, Winergy pledged only a Renault car as guarantee for the deal, as reported by Norvik Bank.

Both Riga City Court and Latgale District Court had both admitted the fraudulent nature of this case and dishonest behaviour of parties involved in it. Ventspils Court was the first to assess this case in detail following a request from the bank. Ventspils Court has given Winergy and Firepower ten days comply with the court’s orders voluntarily.

«It is one of many processes in which Norvik Bank has been trying its hardest to ensure justice and protection of its interests. The dispute involving fictive creditors was one of the most serious ones. In parallel with protecting the bank’s interests, the bank also fought against fictive insolvency administrators who have been helping the fictive creditor achieve his goal since 2013,» – notes the bank.

Ref: 102.109.109.6793


Leave a reply

Association asks to sign document on publication of audio recordings from Saeima meetings

In the assessment of deputy quotas the Budget and Finance Committee worked as voting machines. They did not try to assess each proposal’s purpose, states Delna – Society for Openness, urging other to sign a proposal on Manabalss.lv for the publication of audio recordings made during meetings of Saeima committees.

Estonia to raise wages for healthcare workers

Estonian Health Insurance Fund's has allocated a total of 23.6 million euros for raising wages of health care workers, who last year asked for at total of 68 million euros.

Defence cooperation agreement concluded by Estonia and U.S.

Estonia and the U.S. have signed a bilateral agreement on cooperation in the field of defence, which clarifies the legal framework for the presence of American Armed Forces in Estonia.

Influenza epidemic declared in Latvia

On Tuesday, 17 January, Disease Prevention and Control Centre declared the beginning of an influenza epidemic in Latvia.

Vegetable prices in Northern Europe increased by tough weather in south

Due to Italy and Spain having unfavourable weather for growing vegetables, prices of a number of vegetables are likely to increase.

Reirs: Latvia should introduce minimal social fees

In the next year’s budget it will be necessary to plug the EUR 50 million-large hole in the social budget, said Welfare Minister Janis Reirs in an interview to LTV on Tuesday, 17 January.

European Parliament speaker’s election won by Italian Tajani

Italian right-wing politician Antonio Tajani has won the election for the post of the chairman of the European Parliament. The 63-year-old Tajani is a former press representative of convicted former Italian PM Silvio Berlusconi and an ex-European commissioner

In spite of opposition from businessmen, government supports railway electrification project

On Tuesday, 17 January, the Cabinet of Ministers supported Transport Ministry’s and LDz’s proposed project for electrification of the country’s railway network and its further development. The plan provides for the electrification of the railway network from Daugavpils and Rezekne to Riga through Krustpils, as BNN was informed by Transport Ministry.

Study: users still do not make passwords that are sufficiently secure

«Considering the amount of private and confidential information we tend to store on the internet, users should be more careful about security and effective passwords. This seems self-explanatory, but many people, it seems, do not understand how easy it is to make password-management mistakes,» – says Kaspersky Lab consumer commercial manager Andrey Mohola.

SRS uncovers 3,200 litres of illegal diesel fuel in Riga

During an information check regarding possible storage and realization of illegal diesel fuel, State Revenue Service’s Customs Police uncovered illegally stored diesel fuel within a garage territory in Riga on 11 January, 2017.

GFK determines the most popular smart-phones in Latvia

Last year, Latvians were prepared to spend more money on smart-phones than in 2015. According to results of a study by GFK, residents spent EUR 389 on the purchase of a smart-phone on average.

BATL: intention to electrify railway line is either incompetent or is the scam of the century

In spite of the industry’s calls over the past two years, Transport Ministry still has not provided a cargo attraction plan, a unified offer for our cooperation partners. Nor do we have a clearly defined transit strategy and development direction, says Baltic Association – Transport and Logistics.

Poroshenko warns Ukrainians could get disillusioned with Euro-integration

The choice of the people of Ukraine to go the road of deepening ties with the European Union could turn into disappointment if delays with visa regime and association agreement continue, Ukrainian president Petro Poroshenko stated.

Ventspils municipality’s planned budget expenditures are higher than revenue

On 12 January, Ventspils City Council approved the budget for 2017. It is stated in the document that the base budget’s planned revenue is EUR 13,584,298. Budget expenditures are planned at EUR 22,652,396, as reported by Marlena Zvaigzne, editor of Ventspils Novadnieks.

Rating: Estonia best in Baltic in growing and retaining talent

In a rating on the success of countries in growing, attracting and retaining talented workers, Baltic states have all been ranked in the top 33 out of 100 countries.

FM: gradual transfer to electronic procurements is planned

«The procurement field has changed significantly over the past several years. And it is not just because of the new directive announced by the European Parliament and European Council for procurements. One other factor to consider is the aiming for better management, reduction of the administrative burden and more efficient use of public resources,» – reports Finance Ministry’s Legal Department expert Liga Neilande.

Adding more EUR 10m Rail Baltic stops up for analysis, says Ratas

The current project of the international high-speed railway Rail Baltica contains three stops in its Estonian part, while adding more would need careful analysis, stated Estonian Prime Minister Jüri Ratas.

Okmanis: stores should become modern to survive

Competition in the trade sector continues to grow in Latvia, admits Raimonds Okmanis, chairman of Latvian Traders Association.

Survey: every third Ventspils resident worried about new jobs in the city

Continuing the discussion regarding the unemployment situation in Ventspils, Latvijas fakti had performed a social survey last year. Results of this study show that 32% of residents of this city are concerned about the emergence of new jobs, adding that this is one of the main priorities for the city council.

Indian Ocean’s search for missing Malaysian aircraft – stopped fruitless

Search teams have quit looking for Malaysian airliner, which disappeared from radars on flight No. MH370 from Malaysia to China with 239 people on board, as currently, only seven of the 20 pieces of recovered debris have been identified as definitely or highly likely to be from the Boeing 777.

Turkey’s New Year attack suspect arrested

Police in Turkey have captured the man suspected of having committed a tragic terror attack in Istanbul on January 1.

Media report on Lithuania’s plan to build fence along Kaliningrad border

Vilnius has voiced plans to erect a 45-kilometre-long fence on the Lithuanian-Russian border along the Kaliningrad region, report Russian media.

Noord Natie Ventspils Terminals to offer alternative option for cargo carriers

Noord Natie Ventspils Terminals multifunctional cargo transshipment centre continues its work this year on a wave of positive results. This year, the terminal plans to introduce a new transport line to offer existing carriers and increase cargo turnover.

African swine fever reaches Krimulda and Adazi

On Monday, 16 January, Crisis Management Council decided to declare a state of emergency in Krimulda and Adazi. Because of that, it will be necessary to allocate approximately EUR 100,000 from the state budget for emergencies to combat African swine fever.

Ventspils has the most expensive heating among Latvia’s major cities

The heating season is especially unpleasant for residents of Ventspils, as, according to data from the Public Utilities Commission, Ventspils has the highest heating tariffs among Latvia’s major cities. Heating tariffs are only higher in a couple of smaller cities, but even in most of Latgale tariffs are lower than in Latvia’s richest port city.