bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 19.08.2017 | Name days: Melānija, Imanta
LatviaLatvia

Prudentia gains EUR 380,000 in the Liepājas metalurgs case

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFor the help provided in the case of the now insolvent Liepājas metalurgs, Prudentia Advisers and IBS Prudentia have been paid EUR 384,000 from Finance Ministry in the past 11 months.

‘For the services Prudentia provided as part of Finance Ministry’s state budget sub-programme 31.02.00 the Office of State Debt paid a total of LVL 269,790.32 in the first 11 months of 2013,’ – as it was officially reported by Finance Ministry’s State Secretary Sanita Bajāre to Pietiek.com.

Based on documents kept secret by the government in the Liepājas metalurgs case, it is known that the amounts paid to different failed consultants have been even larger.

These documents show that throughout May 24, 2013 – September 19, 2013 Finance Ministry performed payments worth LVL 266,520.55. This includes a transfer of LVL 189,631.20 to Prudentia; LVL 45,286.03 to Glimstedt law firm and LVL 31,603.02 to Metal Consulting International Limited.

It is likely that Prudentia’s ‘fat’ months are over, however. It was announced by the government last November: ‘Given the fact that Liepaja Court declared Liepājas metalurgs insolvent November 12, 2013, Finance Ministry does not plan to perform any more payments to Prudentia. With the court’s ruling in effect, all functions are handed over to the administrator of the insolvency.’

It was previously reported – even though the co-owner of Prudentia Advisers Ģirts Rungainis claims to be an investment banker and regularly provides advice to Latvian entrepreneurs and politicians on how to hold a proper business, data of Lursoft and information of Pietiek reveal regular payments to Prudentia being performed by Valdis Dombrovskis’ government, which creates a very different picture altogether. Political backing and the economically draining contract in regard to assistance with airBaltic proved to be Prudentia’s only source of income in 2012.

‘In 2012, the company provided consultations to Latvia’s national airBaltic airline, two of the largest Latvian milk processing plants AS Rīgas piena kombināts and AS Valmieras piens in their plans to merge with one another and continue their work under a unified Food Union brand. The company also provided other consultations,’ – mentioned in Prudentia Advisers state report for 2012.

It is stated in the 2011 contract between airBaltic and Prudentia Advisers that the latter was entitled to be paid LVL 13,794 by the airline every week. This contract still has not been terminated even though Prudentia failed to find a potential investor for airBaltic.

This means that Prudentia may have received approximately LVL 689,000 from the state owned airline in 2012. This net turnover is nearly equal to Prudentia Advisers official turnover for 2012 – nearly LVL 689,000.

This means not only was Valdis Dombrovskis’ government the only supporter of Rungainis’ company, but also that the contract with airBaltic, signed solely because of political backing, brought him and his company LVL 216,060 of clean profit. It is unknown how this money was divided.

Prudentia Advisers services were also bought in the last three major crisis situations – the situation with airBaltic and the search for an investor; Parex Banka crisis and the Liepājas metalurgs disaster.

Ref: 102.109.109.3112


Leave a reply

Kirsis asks police to assess possible forging of votes at Riga City Council

Riga City Council’s Unity faction chairman Vilnis Kirsis has asked State Police to check if the city council’s electronic voting system was used without another deputy’s knowledge or consent, said the politician.

Expert: attack in Spain shows how terrorists switched to more easily reachable targets

Terrorist attacks that transpired in Spain this week shows how terrorists have switched to more easily reachable targets, where security requirements are not as strict, says Latvian National Defence Academy’s Security and Strategic Research Centre researcher Martins Hirss.

New mandatory tests in schools to be introduced four years from now

In four years’ time – 2021/2022 school year – it is planned to introduce completely new mandatory tests in schools, as reported by State Education Content Centre Director Guntars Catlaks.

Nearly 9,000 children and their parents got homes thanks to state support programme

In the first half-year of 2017, state support helped 1,527 families in Latvia to buy homes. Compared with last year, families’ demand for state support has grown 6%, as reported by Altum finance institute.

Prediction: Aseradens will likely take control over Unity

Economy Minister Arvils Aseradens will become the head of Unity, Betsafe bookmakers predict. The possibility of Aseradens becoming the head of the party is given 45% probability by Betsafe.

Provisional estimate for next year’s fiscal space in Latvia is EUR 60 million

Next year’s fiscal space has been estimated at EUR 60 million, as noted by Finance Minister Dana Reizniece-Ozola, adding that a more precise estimate will be available at the end of August.

Reconstruction of Vilnius airport runway concludes; aircraft return to Vilnius

On Thursday, 17 August, Vilnius airport’s runway was festively opened. This was the most massive reconstruction for the airport in the past 20 years. It was a unique project for Lithuania and all of Europe, airport representatives say.

Islamic State terrorist group takes responsibility for Barcelona attack

The recent terrorist attack in Barcelona, in which a shuttle bus rammed a crowd of people on La Rambla, killing 13 and injuring at least 100, has become this week’s topic.

Weather in Latvia to be warm but rainy on weekends

The sun will appear every now and then between clouds on Friday, 18 August. Still, some rain is expected, especially in the afternoon in Latvia’s eastern regions, where thunderstorms may appear. Rain is expected to reach the capital in the afternoon. Wind will draw in from the south. Air temperature will reach +21° C… +26° C, according to State Environment, Geology and Meteorology Centre.

Latvia’s export growth was moderately rapid in the first six months of 2017

Compared with the same period of 2016, Latvia experienced a moderately rapid export growth in the first six months of 2017, according to data published by Eurostat on Thursday, 17 August.

Latvia’s annual inflation in July was one of the highest in Europe

Inflation indexes in Latvia and the UK both reached 2.6% in July, which is one of the highest indexes in the European Union, according to data published by Eurostat on Thursday, 17 August.

Kirsis withdraws his candidacy in favour of Aseradens

Riga City Council member Vilnis Kirsis has decided to withdraw his candidacy from the race to become chairman of Unity in favour of a different candidate – Economy Minister Arvils Aseradens.

Rinkevics expresses Latvia’s interest in maintaining political consultations with Palestine

On Thursday, 17 August, Latvia’s Foreign Affairs Minister Edgars Rinkevics met with the leader of Palestine’s diplomatic mission in Latvia, ambassador Taissir Al Adjouri, to discuss mutual relations between Latvia and Palestine and the peace process in the Middle East.

Putin grins to the world’s seven billionth baby, Lithuania wary of border incidents

Russian President Vladimir Putin paid a visit this Wednesday to Kaliningrad, the westernmost point of Russia, but the reports about his trip in the Russian enclave and over the border in Lithuania were strikingly different.

Survey: red considered the safest colour for a car

Most Latvian drivers consider red to be the safest colour for a car. The most popular, however, is black, according to results of a survey by Virši-A fuel trader.

airBaltic’s number of carried passengers reaches a record in second consecutive month

Latvian airBaltic airline carried 393,312 passengers in July 2017, which is 21% more than the same period last year. The number of passengers carried by airBaltic remains the highest it has ever been in the airline’s history, BNN was informed by the company.

Brivais vilnis: nearly all fish processing companies are experiencing losses

Currently nearly all fish processing companies in Latvia are experiencing major or minor losses, says Brivais vilnis chairman Arnols Babris.

American helicopters to perform low-altitude flights within Latvia’s airspace

U.S. Air Force Brigade’s Task Force Phoenix helicopters, which are stationed in Latvia as part of Atlantic Resolve operation, will be performing low-altitude flights from 16:00 to 18:00 from Lielvarde to Dobele on Friday, 18 August.

Healthcare Ministry’s state secretary Karlis Ketners may be replaced

Latvian Healthcare Ministry may replace its state secretary Karlis Ketners. It is possible he will be transferred to work at Finance Ministry, as reported by LTV.

Suspects in Europe's insecticide egg scandal before Dutch court

In the Netherlands, two men have been in court in relation to the scandal of eggs containing banned insecticide that has caused an EU-wide health scare and cost millions of euros of damages.

Indian national with fake documents apprehended on Latvian border

An Indian citizen travelling from Moscow on a bus was caught at Terehovo border control point in Latvia for presenting officers a fake EU family member’s resident card. No criminal process was launched. The person returned to the country he was travelling from.

Latvijas dzelzceļš will not have to pay dividends from last year’s profits

The government decided on Wednesday, 16 August, that Latvijas dzelzceļš will not have to pay dividends from last year’s profits, which were EUR 880,998.

Latvian citizenship provided to 103 people

The Cabinet of Ministers has issued an order to provide Latvian citizenship to 103 people through naturalization.

Estonian Inbank's profits reach EUR 5.7 million in six months

Estonian financial services' provided Inbank made a profit of 5.7 million euros in the first half of 2017, which is a 429.4% increase compared to the respective period in 2016.

Agriculture Ministry invites residents to sign up for measures to support fisheries

From 21 August onward, Rural Support Service plans to start accepting applications for projects to receive support from European Maritime and Fisheries Fund’s action plan for development of fisheries in 2014-2020 as part of projects Innovation, Productive Investments in Aquaculture and Fishing and Aquaculture project processing.

Newest comments