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Monday 20.11.2017 | Name days: Anda, Andīna

Swedbank requests DK Daugava to repay 1.17 million lats

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

Considering a number of prolonged and vicious debtor’s infringements, Swedbank has decided to request SIA Daudznozaru kompānija Daugava to repay the borrowed money, confirms the bank’s communications manager Ivars Svilāns (Svilans).

The outstanding debts to the bank total approximately 1.17 million lats. Swedbank has already received Zemgale District Court decision on the provision of requirements, which stipulates imposition of series of liens on DK Daugava and SIA Piena un maizes nams Daugava assets, as well as to pledge the affiliated persons’ monetary means and property.

Currently, a sworn bailiff is carrying out the enforcement of the mentioned Court’s decision, points out Svilans.

The bank turned to the court after continuous more than a year long attempts to resolve the situation and conduct the restructurization of the company’s liabilities. According to Svilans, the bank provided considerable support to the enterprise during the recession, in order to promote its business restructuring and investment in the creation of retail trade chain, by granting an exemption period of more than six months.

The retail trade chain has been created and operates successfully; however, it has been passed on to another company – SIA Piena un maizes nams Daugava, which is currently the exclusive DK Daugava product distributor and, according to Svilans, purchases products at prices not even covering production costs.

Similarly, according to Swedbank, DK Daugava has illegally transferred its trade marks to persons connected to its sole owner Aigars Vaivars.

Considering these and other infringements, the creditor cannot be passive and watch how the borrower ignores commitments assumed along with the agreement and how the potential repayment funds and collaterals are being gradually lost, Svilans argues, emphasizing the selected collection means are considerate, so that the company’s business activities are not restricted.

Taking into account the company’s bond volume, if its business is stopped, most likely it will not manage to fully repay the loan, thus the bank would suffer losses. Therefore, the company’s further action depends on its management and owners’ actions exclusively, Svilans indicates, claiming the bank always advocates fair business, with each party meeting their commitments and acting transparently, otherwise firm measures are taken in accordance to the law.

The business portal confirmed on the Patent Board’s homepage that, for instance, multiple trademarks with the name Daugava. Dzīvi produkti belongs to A. Vaivars’ eldest son Silvestrs Vaivars, aged 20 years. S. Vaivars also owns several DK Daugava product trademarks, such as Daugava Grill Siers, Daugava Rjaženka, Daugava Kefīrs, Daugava Tīrkultūra, Daugava Jogurts u.c.

SIA Piena un maizes nams Daugava sole owner, up till now publicly unknown Baiba Batraga also owns a number of DK Daugava trademarks, for instance, two trademarks under the brand Daugava. Dzīvi produkti and also the trademark Daugavas.

However, DK Daugava continues to be the owner of one of Daugava. Dzīvi produkti brands.

The information on the Register of Enterprises servicing company Lursoft website shows in May 2010 Batraga became the owner of SIA Piena un maizes nams Daugava, owning a retail trade chain with more than 20 shops launched by DK Daugava.

Initially, SIA Piena un maizes nams Daugava, established on April 4, 2008, was equally owned by A. Vaivars and some Sigita Pētersone, whose shares went into Sindija Vaivare’s possession in November 2008. In March 2009, Sindija Vaivare became the sole owner of the company, but already in October 2009 A.Vaivars replaced her becoming the sole owner.

After several months – in January 2010 – A. Vaivars’ son Silvestrs was registered as SIA Piena un maizes nams Daugava exclusive owner. However, currently, the company is entirely owned by Batraga.

A. Vaivars is still the only DK Daugava owner and Board Member.

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  1. Tian says:

    Is there a sense of uncertainty around the ownership of the trade marks…Frequent owner changes sometimes indicate other things…

    Thumb up 0 Thumb down 0

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