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Friday 20.10.2017 | Name days: Leonīda, Leonīds
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DK Daugava changes hands once again

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

The enterprise SIA Daudznozaru kompānija Daugava (DK Daugava) has again changed ownership, this time Sindija Vaivare has become the holder of all the company’s shares, indicates the information by the Registry of Enterprises servicing company Lursoft.

Vaivare has gained in possession all DK Daugava shares at the extent of 1.6 million lats. It was not long ago, on January 17, that Daugava’s owner Aigars Vaivars sold all the company’s shares to SIA Piena un maizes nams Daugava owner Baibai Batraga.

The transaction was carried out so the company would remain within the family. Besides this is a certain favour to the credit institution, demonstrating that the company is run by a trusted person, Daugava representatives point out.

When asked whether this means the previous owner was unreliable, the representatives denied it. The particular situation required operative action; however, S. Vaivare was abroad at the time, therefore, the decision was taken on passing on the company’s shares to a reliable person – B. Batraga, Daugava spokespersons reveal.

As reported, on January 14, AS Swedbank decided to request DK Daugava to repay all outstanding loan funds at the extent of 1.17 million lats. Swedbank received Zemgale District Court ruling on imposing several liens on DK Daugava and SIA Piena un maizes nams Daugava assets, as well as on distraining funds and property of the affiliated persons.

While the company’s representatives pointed out Swedbank demonstrates financial terrorism and unlimited power, requiring to repay the loan funds, despite the fulfilled obligations.

In order to find a compromise and seek solutions for the intense situation, a meeting between the company’s Board Chairman A. Vaivars and AS Swedbank representatives took place on January 25, in Serene at Daugava production facility.

Both sides expressed their willingness to resolve the situation peacefully. At the beginning of the meeting Vaivars emphasized he wants to continue working, developing the business, providing jobs, fulfilling his responsibilities towards the country and carry on settling commitments to the bank in line with the agreement. He also expressed hope that the bank will stick to its promise of not harming Daugava’s business. The company took Swedbank’s suggestions for review and they will be legally assessed within two weeks’ time, Daugava representatives specified, adding that Swedbank was shown the entire production cycle, from milk reception, butter, cheese and cottage cheese production to finished product packaging.

On January 19, Daugava received Swedbank’s notification on the use of commercial pledge rights, stating the bank is authorized to sell the mortgaged property at an open price without court mediation, and organize an auction, if within 30 days after submitting the notification to the Register of Commercial Pledges the holder has not fulfilled obligations secured by the commercial pledge or paid the entire loan.

Daugava representatives indicated the company wishes to attain the revision of this decision and keep its 20 million lats worth business.


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