bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Wednesday 22.11.2017 | Name days: Aldis, Alfons, Aldris
LatviaLatvia

Minister: the recent actions of LM owners only worsen their situation

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

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

Daniels Pavluts

The actions of the owners of Liepājas metalurgs (LM), gifting properties to their relatives the way they did, are a clear sign that the government should not provide financial assistance to the company, believes Latvian Economy Minister Daniels Pavluts.

In his interview to Latvian Radio, Pavluts said that this kind of action proved his point that the owners of LM do not want to invest money in the efforts to save the company. “This once again crossed my doubts about trying to go and save LM. It is not inability. It is unwillingness to invest ones personal funds into the company”, – he noted.

There is still no clarity about potential investors; how much money they are willing to invest. “We are in the process of exchanging information. Potential investors are being weighted,” – Pavluts added. According to him, these potential investors are from the “Eastern side”.

The minister did mention that the company is no longer capable of paying for electricity. Right now it is important for LM to be able to pay salaries to its workers. As it is known, LM’s financial state is critical. More than 100 workers have already left the company.

As previously reported by BNN, the largest shareholder and Council Chairman of the financially struggling Liepājas metalurgs Sergei Zakharin had given quite a few very generous gifts to his older brother Valery Zakharin nearly one month ago. Zakharin gifted five pieces of real estate property (worth a total of nearly LVL 9 million), Prietiek writes with reference to data from Lursoft.

According to the data from Lursoft, Zakharin gifted his villa in Jurmala (estimated worth – LVL 600 thousand) to his older brother. Also, Valery Zakharin received real estate property in Liepaja (estimated worth – LVL 730 thousand).

Following the example set by Sergei Zakharin, Ilya Segal decided to free himself of some of his personal property as well.

He gave away his villa in Jurmala to his son one month ago, Pietiek reports with reference to information from the land book.

The 7 075-m2-large piece of land and the villa was bought by Segal from Latvijas Gāze Manging Director Adrians Davis and his relative Olgerts Visvaldis-Davis for a total of nearly LVL 600 thousand in 2002.

In June 2012, after having registered his marital relationships with Natalija Segal, the impressive villa in Jurmala remained in Segal’s ownership. However, this May, when the situation at LM became especially tense, the villa suddenly changed its official owner.

According to the land book, Segal gifted this property to Eduard Segal on May 21, 2013. The lucky recipient is only 12. Nevertheless, the parents have put precautions in place – the land book features a restriction for the new owner to perform any legal transactions with the property without his parents’ consent. There is one other note in the land book – Ilya Segal and Natalia Segal both have perpetual rights to use the villa in Jurmala.

Ref: 102.109.109.7998


Leave a reply

  1. Ilmars says:

    The soap opera regarding LM has gone on for too long.
    If they cant or wont pay their bills then bankruptcy receivers should be sent in post haste to to sell LM and pay creditors , or to close it down .
    The meddling of politicians has only made it worse .
    The owners of LM are liars and thieves , and the government should not give them one santimi .

    Thumb up 0 Thumb down 0

EC positive about Latvia’s 2018 budget project

Based on the conclusion from the European Commission, Latvia’s budget project for 2018 fully fits conditions listed in the Stability and Growth Pact. In accordance with EC’s estimates, the structural balance of Latvia’s general budget is viewed at -1.8% of GDP. Government budget expenditures, on the other hand, are expected to grow by 7.1 percentage points.

Producer price level in Latvia declined 0.2% in October

Compared to September, the level of producer prices in Latvian industry dropped by 0.2 % in October 2017. Prices of products sold on the domestic market decreased by 0.5 %, while prices of exported products went up by 0.1 %.

Vaškevičs feels «harsh but fair» attitude from court justice system in Austria

Former deputy director of Latvia’s State Revenue Service Vladimirs Vaškevičs, who is accused of bribery and whose extradition from Austria has been a priority for Latvian authorities for some time now, says he feels «harsh but, thank God, fair» attitude from the Austrian court justice system.

Antāne: lost Russian cargoes have cost Latvia nearly 50 million in nine months

Latvia’s economy has lost nearly EUR 50 million in nine months because of missed Russian transit cargoes. While Russian Railway had approved 90% of oil and coal cargoes for transit through Ventspils port at the beginning of the year, this amount had declined to a mere 5% by September, says Baltic Association – Transport and Logistics President Inga Antāne.

In pictures: Museum of painter, Holocaust survivor Bak opened in Vilnius

In Vilnius, a museum to Jewish-Polish painter Samuel Bak has been opened. During the occupation of Lithuania by the Nazi Germany, the artist survived the Holocaust in the country.

Ratio of old people and invalids on a rise among unemployed people

The total number of unemployed people has been decreasing in recent years. However, the ratio of old people and invalids continues increasing in the ranks of unemployed people. On top of that, the number of lasting unemployed people remains high and largely unchanged in the country.

Saaremaa looking into possible ferry traffic to Latvia

The local government of the largest Estonian island is looking into possible interest of five shipping companies in opening ferry traffic between Saaremaa and Latvia.

Balta: exhaustion and overload are the most common causes for accidents at work

More than EUR 20,000 has been paid in compensations for injuries acquired at work this year so far, according to information from insurance association Balta. Compared with the same period of last year, the number of accidents has grown 40%.

Estonian town tempts population to reregister with spa in Latvia and 100 euro payment

The town of Keila, located 25 kilometres away from Tallinn, has started a one-and-a-half month campaign to motivate its residents to register back in the town as many of them have registered in the Estonian capital, which grants free public transport to its population.

EU to impose fine to Poland if logging in Białowieża forest not stopped

The European Court of Justice has issued to Poland a 15-day deadline to provide proof that the country has fulfilled the court's ruling to quit logging in the ancient Białowieża forest threatening with a daily fine of 100 000 euros if it fails to prove this.

Rīgas namu pārvaldnieks: building restoration will be next year’s priority

Rīgas namu pārvaldnieks plans to focus on improving technical state of its managed buildings. The company plans to restore several dozen buildings next year and up to 100 buildings a year in the next five years, says RNP chairman Aivars Gontarevs.

LCB: even deputies should fulfil their promises

Latvijas ceļu būvētājs, which is an association in Latvia with ties to multiple road and bridge construction companies, invites deputies to support the proposal for the restoration of the State Road Fund, BNN was told by the association’s chairman Andris Bērziņš.

Russia rejects claims of nuclear accident despite radioactive cloud over France

Russia has stated that a nuclear accident has not taken place in its territory although its weather service has found high amounts of traces of a radioactive isotope.

Study: taxes for business in Latvia – the most attractive among Baltic States

Latvia’s tax system is the most attractive among Baltic States and 13th most attractive among 190 countries of the world, according to the latest study performed by the World Bank and PricewaterhouseCoopers on tax systems around the world.

Turkish journalist punished with prison term for tweet

A court in Turkey has sentenced on Tuesday, November 21, a journalist from opposition newspaper Cumhuriyet to three years behind bars over accusations of spreading terrorist propaganda in relation to a post on Twitter, which had been briefly on the microblogging site this spring.

Latvia – 35th country in the world ICT development-wise

This year Latvia reached 35th place in the world in terms of development of information and communication technologies, as mentioned in the latest report by UN International Telecommunication Union.

Instant payment infrastructure comes online in Europe

On Tuesday, 21 November, instant payment infrastructure will be introduced across Europe. On top of that, European banks’ founded EBA Clearing will also introduce its RT1 instant payment system. The European-level solution has also been coordinated with the instant payment processing infrastructure prepared by the Bank of Latvia in August 2017, as reported by the bank.

Police dismantle criminal group that caused damage worth seven million euros to the state

Latvian State Revenue Service’s Finance Police dismantled a criminal group in November 2017. A total of 34 searches were performed and two people were found suspect. The criminal group performed tax avoidance and money laundering operations, causing damages worth nearly seven million euros to the state, BNN was informed by SRS.

Zariņš: deputies who vote for the state budget without amendments will have breached their vows

It is unacceptable for the Saeima coalition to follow the Cabinet of Ministers and like the Cabinet of Ministers breach laws during the budget approval process, says Saeima member Ivars Zariņš, adding that deputies who vote for the budget without amendments will thereby have to breach the vow they had previously made to the Latvian nation.

Estonia’s ruling Centre Party shows door to 31 competing members

The leadership of Estonia's Center Party has accepted the proposals of the party's local branches on fellow members, who ran in the Estonian municipal elections this autumn from a separate list, and expelled 31 members from the political party.

Pabriks: state interests should be held higher than party interests

Latvia cannot be allowed to drown in provincialism. It is in the country’s interest to maintain a course towards European and NATO values. In a situation when the number of centric and European-oriented parties is large, it is becoming harder and harder, because it leads to political fragmentation, and the main goal of it is reaching the 5% barrier during elections, not ensuring growth and development for Latvia, says MEP Artis Pabriks.

Reacting to e-commerce growth, Omniva rushes to expand its parcel locker network

Estonian state-owned postal company Eesti Post, which operates the Omniva brand, stated that it will broaden its network of parcel lockers expand its current parcel machines up until Christmas.

Programme: introduction of ‘honest’ taxi counters is stuck

Taxi drivers that had to replace their counters as far back as 15 October, continue delaying the process, as reported by De Factor with reference to State Revenue Service.

Ministry considers reorganizing Latvian Environmental Protection Fund’s administration

After reviewing information from the State Audit, Latvian Environmental Protection and Regional Development Ministry may consider the possibility of reforming the administration of the Latvian Environmental Protection Fund.

Uber to buy 24 000 self-driving Volvo XC90s

U.S. ride-sharing technology firm Uber has agreed with Chinese-owned Swedish carmaker Volvo on the purchase of up to 24,000 self-driving cars.