Latviski English По-русски
Friday 20.10.2017 | Name days: Leonīda, Leonīds

DK Daugava changes hands once again

(No Ratings Yet)

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.

Leave a reply

Prime Minister: Latvia cannot accept additional asylum seekers

Latvia cannot afford to resettle additional asylum seekers, said Prime Minister Māris Kučinskis during his meeting with European Commission President Jean-Claude Juncker on Thursday, 19 October.

Scandinavians purchase tourism company in Lithuania; changes expected in Latvia too

Dutch Otravo online travel organization has expanded and has purchased Lithuanian online travel agency Interno Partneris, thereby entering the Baltic market.

Ombudsman: non-citizen status matter should be resolved in next decade

The next ten years may be the transition period to ‘put an end’ to the non-citizen status in Latvia, said ombudsman Juris Jansons in an interview to LTV programme Rīta panorama.

Swedish Foreign Minister: harassment exists at highest political level

The Foreign Affairs Minister of Sweden, Margot Wallström, has commended the current sexual assault and harassment awareness campaign in social media and urged to fellow politicians to address the problem.

Latvenergo recognized as Latvia’s most valuable company for tenth time

Latvenergo has been recognized as Latvia’s most valuable company in 2017. Its value grew 34% in comparison with 2016, according to the TOP 101 list of Latvia’s most valuable companies compiled by Prudentia and Nasdaq Riga.

Number of births and number of deaths decline in Latvia

During the first nine months of this year 15,723 babies were born in Latvia, which is 1,113 children fewer than in the corresponding period of the last year.

CC applies binding conditions for the sale of MTG Broadcasting AB

Latvian Competition Council has decided to permit Bite Lietuva to purchase MTG Broadcasting AB group’s businesses in Latvia. CC has applied several binding conditions to prevent a possible impact on competition on the television services and advertisement market.

Eesti Energia warns: Limiting CO2 emissions on capacity could endanger energy supply

Estonian energy giant Eesti Energia has evaluated that a plan under discussion in the European Union to introduce a carbon dioxide release limit for capacity mechanisms to qualify for subsidies could adversely affect the security of supply in Estonia and the Baltic states.

Solidarity tax norm recognized as non-compliant with Latvia’s Constitution

On Thursday, 19 October, the Constitutional Court of the Republic of Latvia declared the Solidarity tax norm as non-compliant with the country’s Constitution.

Survey: Riga residents go to the doctor’s the most often

34% of residents undergo regular health checks, according to Mana Aptieka & Apotheka health index. In addition, women are twice as serious about health checks as men.

LG cozies up with idea of rebuilding railway tracks to Reņģe, Latvia

Lithuania‘s Lietuvos Geležinkeliai has sent a mixed message as to what it intends to do next following an EC fine of nearly 28 million against it over the dismantling a 19-km railway stretch with the Latvian village of Rengė.

Čigāne: European Union’s social pillar is very important to Latvia

On Wednesday, 18 October, Saeima’s European Affairs Committee approved Latvia’s national position on the introduction of EU Pillar of Social Rights.

40% of all car problems are relate to lighting, battery and security systems

It has been determined that 41% of all car problems are related to lighting devices, 39% of problems are related to malfunctioning batteries, and 44% of problems are related to security systems.

Xi Jinping: Chinese socialism has entered new era

China's ruling Communist Party's five-year congress has been opened with the country's President Xi Jinping outlining a general plan for the future development of China.

Public transport in Latvia procurement may be at risk

Considering that continued and unhindered provision of public transport services on ten routes may become at risk from 1 January 2018 onward, Public Transport Council made a decision to ask the Road Directorate to sign a new contract to ensure services are available in multiple Latvian cities, as confirmed by Road Directorate.

Iraqi forces retake disputed territories from Kurdish forces

Three weeks after the Iraqi Kurdistan independence referendum, forces of the Iraqi central government have taken control of the territories in the country, which had been seized by Kurdish fighters after victories over the terrorist group «Islamic State».

Sale of MTG’s business in Baltics to Providence concludes successfully

Wednesday, 18 October, marked the successful conclusion of the sale of Baltic assets owned by Swedish media concern Modern Times Group to Providence Equity Partners. From now on companies previously owned by MTG in Baltics will function as a single organization named All Media Baltics, as confirmed by the company’s manager Pierre Danon.

Estonian port company makes 29% more revenue in January-September

Estonian state port company Port of Tallinn has made the revenue in the amount of 99.1 million euros in the first nine months of 2017, which is a 29% increase compared to January-September in 2016.

42 gambling halls to be closed down in Riga in next five years

On Wednesday, 18 October, Riga City Council supported plans to close another 33 gambling halls in the city. With that, a total of 42 gambling halls will be liquidated in the next five year.

Latvia has the highest index of female CEOs among EU member states

The highest index of female CEOs among European Union member states belongs to Latvia – 47%. In total, only 33% of CEOs in EU were female last year, according to data from the Central Statistical Bureau of Latvia.

Survey: more and more people take notice of benefits provided by EU membership

65% of Latvian residents believe the country’s membership in the European Union has brought tangible benefits. A similar opinion was voiced by 64% of residents of all EU member states in the Eurobarometer study performed by the European Parliament.

17 persons in need of international aid are relocated to Latvia from Turkey

On Tuesday, 17 October, seventeen individuals, including nine children, in need of international protection were relocated to Latvia from Turkey as part of EU resettlement programme, as confirmed by Latvian Office of Citizenship and Migration Affairs.

BATL: to avoid crisis in transit sector, government and Transport Ministry must act

Latvian Prime Minister Māris Kučinskis’ led Latvian Ports, Transit and Logistics Council also supports Saeima’s National Economy Committee’s decision on the need for Transport Ministry to develop a long-term vision for the development of the country’s transit industry.

Psychologist: six-year-old children are not ready for school

«It is wrong to believe that the sooner a child starts going to school, the better their academic results will be. Reforms are performed aggressively, without asking pedagogues or other specialists for their opinion. We lack a comprehensive analysis of the current situation that would be based on studies, not international ratings,» says certified clinical psychologist and psychotherapist Jolanta Lamstere.

Klaipeda transport ticketing system to be installed by Estonian Ridango

In the Lithuanian port city of Klaipeda, Estonian firm Ridango has been selected for installing its technology on public transport.