Latviski English По-русски
Saturday 21.07.2018 | Name days: Meldra, Meldris, Melisa

Swedbank requests DK Daugava to repay 1.17 million lats

(+1 rating, 1 votes)

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.

Leave a reply

  1. Tian says:

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

SRS: cash register reform still stagnates, but has become much faster than it was last year

The cash registers reform continues stagnating. However, it has become much faster than it was a year ago, as reported by State Revenue Service.

Specialists to search for solutions to topical environmental problems in Ventspils

On Friday, 20 July, a meeting was held between Ventspils Commercial Port representatives and specialists from State Environment Service.

Children with functional disorders to receive services financed by EU funds

Child invalids will have access to social services intended to improve their social skills and mobility. More than EUR 4.2 million has been allocated for this goal from the European Social Fund, as confirmed by Latvia’s Central Financing and Contracting Agency.

Producer price level in industry up 4.3% in Latvia

Compared to June 2017, the average level of producer prices in Latvian industry increased by 4.3 % in June 2018. Prices of products sold on the domestic market rose by 4.8 % and those of exported products by 3.7 %.

Total tax debts in Latvia in July – 1.212 billion euros

At the beginning of July total tax debts in Latvia, including outstanding debts, halted debts and debts applied with repayment term extensions, accounted for EUR 1.212 billion, which is 0.8% less than a month prior, according to data from the State Revenue Service.

Survey: every third Latvian resident has received illegal loan offers

Nearly every third resident in Latvia or 31% of respondents admit having received offers to use illegal loan services, as concluded in a survey performed by Latvian Alternative Financial Services Association and SKDS.

Libya opposed to EU's idea to establish migrant centres in North Africa

Libya is against the solution of the European Union to set up migrant centres in the North African country as a means to keep migrants from arriving in the bloc and Libya would not be convinced with financial support, its Prime Minister Fayez al-Sarraj has noted.

Arrest warrant on Catalan ex-President cancelled by Spain

The Supreme Court of Spain cancelled a European arrest warrant for former Catalan regional leader Carles Puigdemont, as Germany refused to extradite him to face accusations of rebellion for declaring the independence of Spain's region, Catalonia in 2017.

Latvian government plans to allow handing expired food to charity

Latvia’s Agriculture Ministry has prepared amendments to the Law on the Supervision of the Handling of Food that provide permission to hand over certain types of food products to charity after the end of their expiry date.

Estonian industrial producer prices up 2.9% since June 2017

Estonian industrial producer price index has risen by 2.9% between June 2017 and the first summer month this year, resulting in an increase of export prices as well, Estonian statisticians have estimated.

Putin urges NATO to quit «irresponsibly» developing ties with Ukraine, Georgia

Russia's President Vladimir Putin cautioned NATO against developing deeper relations with Ukraine and Georgia, evaluating such a policy was irresponsible and would have consequences for the military alliance.

Latvian parliament not in a hurry to support president Vejonis for a second term

Political parties represented in the Saeima are not eager to support President Raimonds Vējonis for his remainder for a second term.

Weather in Latvia will remain warm and even hot at times

Weather in Latvia in the nearest couple of days will be dictated by a cyclone. Because of that the sky will be partially covered by clouds; thunderstorms are also expected, as reported by State Environment, Geology and Meteorology Centre.

Hungary sued in EU Court for criminalising help to illegal immigrants

The European Union's executive body has stated that a law in Hungary that criminalises support for illegal immigrants is in breach with EU law and Hungary has now been referred to the European Court of Justice for the alleged non-compliance.

Estonians buy alcohol in Latvia; country loses EUR 20 million in six months

Latvian stores located close to the Latvian-Estonian border have sold 1.6 million litres of strong alcoholic drinks in the first half year of 2019. This means Estonia has lost more than EUR 20 million in taxes, according to data from Association of Estonian Alcohol Producers and Importers.

Lithuania’s election watchdog slams ruling LFGU over popular TV series

Political messages can be channeled in various ways and the ruling now Lithuanian party, LFGU has chosen a very delicate way of the communications – through a TV series featuring the beauty and the ambiance of Naisiai, a picturesque settlement in Siauliai district.

Association: around 3,3000 people know of their HIV infection but receive no treatment

HIV remains a serious problem in Latvia – around 3,300 people are aware of their status but receive no treatment and continue spreading the infection. Because of that, it is necessary to act quickly for Latvia to lose its status as HIV kingdom and limit the spread of the infection, says Baltic HIV Association, informing decision-makers and responsible officials in institutions and hospitals about the HIV/AIDS situation.

Driver shortage may force reduction of international road haulage volumes

Latvia’s road haulage companies have started experiencing shortage of drivers. On top of that, if employment conditions for residents of non-EU member states do not change, it may be necessary to reduce the volume of road haulage volumes, says Latvijas auto president Valdis Trēziņš.

Lattelecom’s turnover up 9% in first half-year of 2018

Lattelecom Group’s turnover reached EUR 98.7 million in the first half-year of 2018, growing by 9% in comparison with the same period of 2017, according to unaudited financial results.

1,140 fewer births registered in Latvia in 2017

Since 2016 the number of births in Latvia is declining again. Compared to 2016, a total of 1,140 births fewer were registered in 2017. Also, the provisional number of births registered over the first six months of 2018 (9,664 children) is by 664 children smaller than that registered over the respective period of 2017.

Citadele Bank decides to reform Lithuanian subsidiary as a branch office

Citadele Bank has decided to reform its Lithuanian subsidiary as a branch office, as confirmed in the statement the bank submitted to Nasdaq Riga.

Russian pension age hike discussed amid protest outside Duma

As the Russian paliament votes on the proposal to gradually increase he pension age to 65 for men and 63 for women, some 200 people were seen protesting against the reform in Moscow.

Corruption watchdog chief says bureau has done no illegal actions

After going through Corruption Prevention and Combating Bureau’s past investigative activities, the bureau’s chief – Jēkabs Straume – found it confusing that officers often took no appropriate actions after acquiring evidence or receiving indications regarding necessary steps.

Illegal border crossings to Estonia on rise after Russia World Cup

Football fans with temporary residency permits of the Russia World Cup, or fan Ids, are trying to illegally cross the Russian border with Estonia, a member of the European Union.

Estonian 13-year-old lethally overdoses fentanyl

Estonian prosecutors have accused a 15-year old of negligent homicide after a girl, 13, passed away from fentanyl overdose.