Latviski English По-русски
Saturday 23.03.2019 | Name days: Mirdza, Žanete, Žanna

Insolvent Tosmare Shipyard plans to lay off workers

(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUTosmare Shipyard, which has been declared insolvent recently, has plans to lay off workers, as reported by LTV.

TV Kurzeme managed to contact the company’s chairman Aleksandrs Vaļums. Unfortunately, he did not provide any comments on this matter. Insolvency administrator Ivars Meļķis, on the other hand, said the company’s legal protection plan was declined because it was submitted too late. Right now the main objective is assessing the company’s financial state and reducing costs, which is planned to do by means of lay-offs.

«Looking at our closest orders and which specialists are needed to complete them, we will plan out lay-offs accordingly,» Meļķis told LTV, adding that less-important employees could be fired in the near future. «Still, it does not exclude the possibility of them being hired back after some time,» he added.

According to information from the State Employment Agency, Tosmare Shipyard has around 160 employees. So far SEA has not received a report from this company regarding a large-scale lay-off plan, nor has the agency been able to contact the company’s management. «No one answered any of the calls we have made using the phone numbers available to us. With that, we are unable to comment on what happens at the company and what they plan to do in the future,» SEA Liepaja Office manager Dace Baimane told LTV.

Currently SEA in Liepaja offers 700 vacancies. Approximately 100 of them are associated with metallurgy and ship-building, LTV reports.

On 9 August, Kurzeme District Court declared AS Tosmare Shipyard insolvent. Ivars Meļķis was appointed as the company’s insolvency administrator.

The request for insolvency was submitted by SIA Smare.

Smare representative, lawyer Ēriks Štālbergs said Tosmare Shipyard’s debt to his represented company is EUR 21,557. At the same time, he added that Smare has multiple associated companies, but only one of them has submitted a plea to the court. The total debt Tosmare Shipyard has before associated companies is around EUR 90,000.

«Tosmare Shipyard was agonizing throughout last autumn and winter. The company has nearly no employees left. All the work is performed by sub-contractors. And the company is left indebted to them. Several companies have already turned to us. So far, however, we have been able to reach an agreement with Tosmare Shipyard regarding debt repayment schedule. This time, unfortunately, we’ve not been able to reach an agreement. This is likely because Tosmare Shipyard has no funds left,» said Štālbergs, adding that Tosmare Shipyard did try to reach an agreement with Smari, but shortly before the court session it had transferred EUR 1,000 to the account of its creditor.

In the statement to Nasdaq Riga, the company’s representatives mentioned that the day before declaration of insolvency, 9 August, Tosmare Shipyard submitted a request for legal protection to Kurzeme District Court.

«Considering Kurzeme District Court’s decision, Tosmare Shipyard actively cooperates with the administrator so that the court would agree to commence legal protection process with his approval. Legal protection is a procedure that gives debtors in financial troubles an opportunity to restore their solvency by using means and methods detailed in the Insolvency Law,» as mentioned in the statement.

As previously reported, Tosmare Shipyard was applied with a prohibition of commercial pledge registration, renewal and change in the Commercial Pledge Registry of the Register of Enterprises of the Republic of Latvia in accordance with the 12 June 2018 decision of the Tax Enforcement Office. According to data from the State Revenue Service, Tosmare Shipyard’s total tax debt was EUR 398,652 as of 7 July.

Leave a reply

Crumbling buildings and the future of Riga’s slums

There are many empty buildings in Riga at the moment. However, Riga’s slums have a way to be reborn. One option is Rail Baltica, which could potentially change the situation with jobs in the city centre. Developers might have many complicated objectives ahead of them, considering that more and more people may decide to relocate to Riga’s central districts, said Riga city’s chief architect Gvido Princis in a conversation with BNN about Riga’s slums.

EC Vice-President: like other countries, Latvia has limited progress with EC recommendations

Latvia has limited progress when it comes to implementation of recommendations from the European Commission. Nevertheless, Latvia does not fall from the general EU context, when most member states have a small or limited progress with recommendations, said EC Vice-President Valdis Dombrovskis during a joint meeting with Latvian Saeima’s committees.

Comparing abortions to killing affects Estonian government talks

After figures of the Estonian Conservative People's Party compared abortion to killing of people, the party's partners in coalition talks have voiced criticism.

Latvian Olainfarm minority shareholders urged to attend shareholder meeting

Co-owners of Valerijs Maligins inheritance Nika Saveļjeva and Signe Baldere-Sildedze, as well as Annas Emīlija Maligina’s mother invite Latvian pharmaceutical company Olainfarm minority shareholders to attend an extraordinary shareholders meeting and actively propose their candidates for the council.

Social workers’ wages in Latvia to grow by average of EUR 145 a month

Latvian government has decided to allocate an additional amount of EUR 4.8 million to increase wages for state social care centres starting from 1 April 2019. This will allow increasing their wages by an average of EUR 145 a month. This is provided by the 2019 state budget that has been approved by the Latvian parliament in the first reading, as confirmed by Welfare Ministry.

Germany pushes for funding cuts to EU members violating core values

Germany's federal Foreign Minister believes the European Union should start reducing its solidary funding and introduce sanctions on member states that adopt legislation contrary to European values, for example, free press, rule of law and independent courts.

Association reports Latvia suffers the most from emerging HIV cases

In 2018, 326 new HIV infection cases were registered in Latvia, according to information from Disease Prevention and Control Centre. Inga Upmace, chairperson of Baltic HIV Association, says that even though this is less when compared to 2017, Latvia remains an unfortunate leader among Baltic States for emerging HIV infection cases.

Poll: 40% Britons have felt powerless or angry over Brexit

About 40 percent of the adult population of the United Kingdom have been feeling powerless, angry or worried by Brexit in the past 12 months, a mental health poll showed.

Riga City Council wants a large loan from Latvia’s State Treasury for bridge project

To finance the reconstruction of Krasta Street and Brasas Bridge, Riga City Council plans to take a EUR 14.23 million loan from Latvia’s State Treasury, according to documents added to the working agenda of Riga City Councils Finance and Administrative Affairs Committee.

EU postpones British withdrawal to April 12 or May 22

The United Kingdom has been given two extra weeks by the European Union to decide for the third time on its withdrawal agreement and to leave on April 12 if it is not passed or to leave on May 22 if it is passed.

Less precipitation expected in Latvia this week and more sunlight expected next week

On weekends the sky will be equally cloudy and sunny. Some rain is expected only on Saturday and the night to Sunday. On the night to Saturday, there will be clear sky and air temperature will drop to 0° C… -4° C, according to Latvian State Environment, Geology and Meteorology Centre.

Producer price level in industry in Latvia up 0.6% in February

Compared to January, the level of producer prices in Latvian industry rose by 0.6 % in February 2019. Prices of products sold on the domestic market grew by 1.2 %, but prices of exported products remained the same.

Latvian president proposes giving citizenship to all children born in Latvia

Latvia’s President Raimonds Vējonis has submitted to the Saeima a legislative draft On Ceasing Provision of Non-Citizen Status to Children. This draft suggests giving children born to non-citizen parents Latvian citizenship upon birth starting from 1 January 2020 unless parents have decided on giving their child citizenship of another country, as reported by State President’s Chancellery.

Expert: Latvia has not accomplished with reduction of inequality

In the past seven years Latvia’s government has not properly implemented the recommendations provided by the European Commission on reduction of inequality, European Anti-Poverty Network’s EAPN-Latvia board chairperson Laila Balga told LNT programme 900 seconds on Thursday, 21 March.

Ruling LFGU’s presidential hopeful Skvernelis unveils key foreign policy points

Lagging in the presidential polls behind the frontrunner Gitanas Nausėda and MP Ingrida Šimonytė, Lithuania’s prime minister Saulius Skvernelis, the presidential hopeful of the ruling Farmers and Greens Union, LFGU, is ready to move heaven and earth in attracting voters on his side.

Banks in Estonia adopt increased anti-money laundering regulations

The Estonian Banking Association has decided to task its member lenders to fullfil anti-money laundering due diligence measures in an attempt to further heal Estonian banking reputation scarred by the Danske Bank money-laundering scandal.

Penalty to be applied to people for causing trouble for whistle-blowers in Latvia

Additions to the Latvian Code of Administrative Violations provide the application of a fine of up to EUR 14,000 to a legal person for causing trouble for whistle-blowers or their family members, as reported by Latvian State Chancellery.

New Zealand bans sales of semi-automatic weapons after Christchurch shootings

Assault rifles and military-style semi-automatics have been banned in New Zealand in a government reaction to the Christchurch mosque shootings.

Latvian parties submit 15 candidate lists for European Parliament elections

Five more Latvian political parties and party associations have submitted candidate lists to the Central Election Commission for upcoming European Parliament elections. So far participating parties include the National Alliance, Latvian Association of Regions, Latvian Social Democratic Workers Party, New Conservative Party and KPV LV.

Study: 55.6% of businessmen complain about high taxes in Latvia

Looking at the amount of taxes companies pay, 55.6% of businessmen and CEOs said there are too high, 36.5% said taxes are a bit too high, whereas 7.2% said taxes are as high as they need to be, according to data from Turība University’s Business Index.

Brussels: EU to support short Brexit postponement, if London passes deal

In the Brexit saga, a no-deal withdrawal is possible again as Donald Tusk has warned EU leaders will only agree to a short delay if MPs back Theresa May’s deal in March.

Allowance for people suffering from serious disability to be increased by EUR 100 in Latvia

From 1 July the Latvian government plans to increase the allowance for children and adults who require special care and who suffer from serious health problems from childhood.

Latvian minister: we should work with convicts, not isolate them

People who are currently isolated from society in prisons should not be kept isolated – they should be allowed to re-socialize, said Latvian Justice Minister Jānis Bordāns at a press-conference about the study on former inmates’ abilities to re-socialize.

Brexit extension: Theresa May won’t as for more than 50 days

British Prime Minister Theresa May wants only a short Brexit term extension that will not exceed 50 days, as reported by The Guardian.

Business Index: 56.7% of businessmen in Latvia believe government hurt businesses

When asked about the influence Latvia’s government has on the country’s entrepreneurship, 56.6% of interviewed businessmen said the government interferes with the sector, whereas only 7.3% said the government provides assistance, according to results of Turība University’s Business Index.