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Ceturtdiena 19.10.2017 | Name days: Drosma, Drosmis, Elīna
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Restrictions imposed on Segal's remaining property and LM stocks

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThe decision has been made to impose restrictions on Liepājas metalurgs (LM) stockholder Ilya Segal’s remaining property and stocks in the company worth more than LVL 1.4 million.

This decision was not made following a request from the government. It is part of the claim in the litigation involving LM ownership rights, Pietiek reports.

As previously reported by BNN, Segal decided to relieve himself of some of his personal property. According to information from the land book, he gifted his villa in Jurmala to his twelve-year-old son.

According to the Pietiek’s information, on June 18, Gesil Limited turned turned to the court against Segal in order to recover its losses. This company is related to another LM stockholder – Kirov Lipman. The company wants LVL 1 420 073 from Segal.

It is stated in the decision of the court that Gesil Limited gave authority to Ilya Segal on July 3, 2003. Using his newly provided authority, Segal performed a transfer of 1 420 073 stocks owned by the plaintiff to the account of another LM stockholder – Sergei Zakharin. According to Gesil Limited, by doing so, Segal had exceeded his authority and acted in direct contradiction with the company’s interests.

The decision of the court also mentions Segal’s marriage contract, which is a very popular method used in Latvia as a reserve option to save personal property in problematic situations:

“The claim is justified with the plaintiffs belief that the execution of the sentence in this particular litigation may be difficult or even impossible. According to publicly available information, on May 29, 2012, the trustee signed a marriage contract regarding the division of the owned property, which was signed not with the intention to clarify the matrimonial property, but because there was a litigation that involved another LM stockholder – the recipient. Knowing the risks of a possible litigation in the future, hoping to keep valuable assets, the trustee and his fiancé signed a marriage contract. This shows lack of integrity of the trustee, attempt to avoid contractual obligations. This leads the court to believe that the trustee could attempt to make the execution of the court’s sentence difficult or impossible”.

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: 102.109.109.8013


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