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Tuesday 19.06.2018 | Name days: Nils, Viktors

Supreme Court to review feud on Ventbunkers shares rights

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The Senate of the Supreme Court (SC) will be reviewing the complaint submitted by Yelverton Investment B.V. in the feud for the ownership of 29.08% of Venbunkers shares on Friday, January 18.

The enterprise submitted the complaint in regard to SC November 12, 2012 decision, which declined securing a plea. The plaintiff had asked the Court to prohibit the defendants – companies Steropes Limited, Gyges Limited, SIA Kement, AS Topmar Baltic Investments, as well as Martins Kveps and Raimonds Grinins – to submit applications to the Enterprise Register about changes in the Board and Council of Ventbunkers.

The enterprise also requested the Court to prohibit the aforementioned defendants to take office in the Board and Council of Ventbunkers and hold shareholder meetings. In addition, the Court was asked to include the prohibition in the commercial register, which would prevent the mentioned individuals take office in the Board and Council of Ventbunkers.

The SC decision to decline the complaint was justified by the fact that securing the request of Yelverton Investment B.V. is directed towards prohibition and/or limitation of use of voting rights, but it does not comply with Point 5 of Part 1 of Section 138 of the Civil Process Law.

The SC had planned to begin the review in November 2012, but due to the submission of the additional plea, this case was removed from consideration.

It was also planned to review the case on April 26, but it was postponed because the SC could not be sure about Ventbunkers‘ representative Kveps’ authority after the April 20, 2012 change in the Board of this company.

The plea was submitted to the SC against Ventbunkers, Grinins, Valery Godunov, Kveps, AS Topmar Baltic Investments and Kemet, as well as British Virgin Islands registered Gyges Limited and Steropes Limited. AS Optima Management, once the owner of 1.39% of Ventbunkers shares, is listed in the plea as a third party.

As it is known, Riga Regional Court declined the plea of Yelverton Investment B.V. on December 16, 2010. The company then submitted an appeal to the SC.

Yelverton Investment B.V. asked in its plea to declare the changes made to the shareholder register and decisions made on the December 18, 2009 shareholder meeting void, as well as confirm the company’s rights for the 13 960 shares of Ventbunkers and secure 160 000 LVL for the company as compensation for losses.

The Regional Court had declared that the securing of the plea of March 2010 – prohibition for Gyges Limited and Steropes Limited to partake in Ventbunkers shareholders meetings and use any rights – is also subject to cancellation.

Ventbunkers representative Aivars Gobins previously stated that the foreign firms Steropes Limited and Gyges Limited present themselves as owners of 29.08% of Ventbuners shares based on fabricated documents.

“Both firms are registered on the British Virgin Isles, and the only link they have to Ventspils is that the real beneficiaries are former Ventspils nafta officials Igor Skoks and Gennady Shevtsov. Ventbunkers did not and does not have any judicial relations with both of these firms,” – said Gobins.

BNN previously reported that the Supreme Court Senate Department of Civil Cases declined Yelverton Investment B.V. February 24, 2012, submitted plea, saying that Steropes Limited and Gyges Limited are Ventbunkers shareholders.

It should be added that individuals linked to Steropes Limited and Gyges Limited previously spread false information about the SC’s decision to the press.

The fabricated announcements in the press stated that the information was allegedly prepared by the SC, even though the SC had never given the press any information in regard to this case, as previously stated by Yelverton Investments B.V.

«This is yet another time the controversial person Kveps blatantly lies to the public. Kveps is accused of serious financial crimes. He is a lawyer close to the political party’s «underground oligarch» Olafs Berkis. By distorting the essence of the Supreme Court ruling, Kveps clearly disrespects the Supreme Court and Latvian court system as such,» emphasized Rudolf Meroni, Ventbunkers Supervisory Board Chairman and authorized representative of the Dutch companies – Yelverton Investment B.V. and Yelverton Investments B.V.

The only legitimate Ventbunkers shareholders are companies registered in the Netherlands – Yelverton Investment B.V., Yelverton Investments B.V., SIA IAG, Austrian company IAG Industrieanlagen GmbH, SIA Kement, SIA Topmar Baltic Investments, a/s Optima management, a/s Investment Activity, as well as Aivars Lembregs, Anrijs Lembergs and Liga Lemberga.

There are no other legitimate Ventbunkers shareholders. British Virgin Islands companies Steropes Limited and Gyges Limited have never been Ventbunkers shareholders.


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