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Friday 24.11.2017 | Name days: Velta, Velda

Daugava denies ignoring loan payments

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU

We have not ignored loan payments included in the agreement concluded with Swedbank, says SIA Daudznozaru kompānija Daugava Board Chairman Aigars Vaivars, denying the previously announced information about the company not meeting its liabilities.

The bank and the legal system are carrying out activities based on unfounded suspicion under the principle «someone told». Unfortunately, this results in people loosing their jobs, Vaivars told in a press conference on January 18, showing print outs of his payment history.

Vaivars stresses the company is still meeting its liabilities. 90 000 euro (63 252 lats) is already a booked sum, the bank sees it perfectly well, but they are lying we are not settling the payments. I am suspicious the bank wants to take over the company, thus on January 14 I overwrote DK Daugava shares to Piena un maizes nams Daugava owner Baiba Batraga, he explains.

Asked who the new owner Batraga is, Vaivars abstains from commenting, acknowledging he can only be responsible for his own company. I transferred the shares for some time in order to protect them. I have not made any transactions with a pledged property. I will not name the sum of the transaction, says Vaivars, adding that the company is on the brink of not being able to carry out production, because suppliers ask for pre-payment, causing additional costs.

Similarly, he points out the bank was righteous to check the activities of the company, but not a single bank official visited the company in a year’s time. We have sent the bank our 2011 business plan proving we are solvent. The balance sheet of 2010 even reported a slight profit, points out Vaivars.

Asked about their future prospects, Daugava Board Chairman is evasive, only indicating Citadele has offered re-creditation.

Vaivars reveals on November 12 he was offered to sell the company to Scandinavians. The company costs a lot, I have invested at least 20 million euro in it. I said I was ready to step back and sell it for 10 million euro (7 million lats). They as if agreed, but disappeared afterwards.

As reported, on January 14 Swedbank decided to request SIA Daudznozaru kompānija Daugava to repay the borrowed money at the extent of 1.17 million lats.

Swedbank had already received Zemgale District Court decision on the provision of requirements, stipulating imposition of series of liens on DK Daugava and SIA Piena un maizes nams Daugava assets and pledging the affiliated persons’ monetary means and property.

While DK Daugava Head Aigars Vaivars says Swedbank is carrying out financial terrorism, despite they have met the liabilities.

Meanwhile Lursoft information shows the company SIA Daudznozaru kompānija Daugava has been acquired by SIA Piena un maizes nams Daugava owner Baiba Batraga.

The bank is neither informed about such a change of hands, nor who Baiba Batraga is and where she got funds to acquire the shares from, says the bank representative Ivars Svilāns.

As reported, up to January 17, Aigars Vaivars was the sole owner of Daugava, while, according to Lursoft, currently the company is owned by Batraga. Daugava concluded 2009 with 542 748 lats losses, despite having made 242 466 lats profit in 2008, shows Lursoft information.

Daudznozaru kompānijas Daugava 2009 turnover dropped 14.1% – from 1.9 million lats in 2008 to 1.64 million lats. Vaivars told previously 2009 was a very difficult year, due to many changes.

According to information, SIA Daudznozaru kompānijas Daugava stock capital amounts to 1 603 000 lats.

Leave a reply

  1. rut says:

    Quite as fuss there.. who is right in this case?

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  2. Stulbais Anglis says:

    Dear Mr. Vaivars, the bank is a probably a little worried that you’ve been transferring all your assets and profits out of the business that owes them money. Now you’ve transferred – sorry – sold your shares in the company without informing them. They are not complaining that you haven’t paid, so it’s totally pointless of you to argue that you have. Try googling ‘straw man’ to see where you’re going wrong. BTW, who are all these other Latvian companies that have been ‘raided’ by Swedbank?

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