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Ceturtdiena 20.09.2018 | Name days: Marianna, Ginters, Guntra
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Three KVV Liepājas metalurgs real estate auctions conclude

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUFriday, 29 June, marks the end of three auctions for the sale of real estate properties owned by insolvent KVV Liepājas metalurgs, according to information published in Latvian Herald.

On 30 May, the company’s administrator Vita Dika announced three auctions. The total value of auctioned properties reached EUR 262,000. Auction prices are not applied with VAT. The enforcer is Citadele Bank and other KVV Liepājas metalurgs creditors.

Auctions will be closed down at 13:00.

The real estate properties in question were previously offered at an auction that concluded 20 April. However, no one had applied for those properties. The price of those properties is set on the same level as it was at the last auction.

The three auctions include KVV Liepājas metalurgs’ owned property located on Brivibas Street 142B in Liepaja (starting price set at EUR 57,000), KVV Liepājas metalurgs owned property located on Brivibas Street 99A in Liepaja (starting price set at EUR 38,000), as well as KVV Liepājas metalurgs owned property located on Brivibas Street 98 in Liepaja (starting price set at EUR 167,000).

Austrian Smart Stahl GmbH won in the auction of KVV Liepājas metalurgs rolling mill equipment on 20 March. The offered price was EUR 1.57 million (no VAT) or EUR 1.9 million (with VAT). The Austrian company has transferred the funds and the auction has been declared complete.

The 28 March auction for the sale of KVV Liepājas metalurgs electric iron smelting workshop and movable properties in it was declared failed because there were no contenders. The initial price was set at EUR 5.35 million.

Privatization Agency’s subsidiary SIA FeLM plans to sell KVV Liepājas metalurgs electric iron smelting workshop at a public auction. FeLM had informed KVV Liepājas metalurgs’ insolvency administrator about the plan to keep the aformentioned property in its ownership after the auction was declared failed.

On 20 April, eight out of eleven properties offered for auction were successfully sold. The price paid for them was EUR 1.77 million.

As previously reported, British Steel consortium has voiced an interest in acquiring KVV Liepājas metalurgs property, but only if everything is sold as one package. In a letter sent to KVV Liepājas metalurgs’ insolvency administrator, FeLM board member Jānis Rībens and Citadele Bank, British Steel confirmed its interest to acquire all property owned by the insolvent company as one whole package.

KVV Liepājas metalurgs was declared insolvent in September 2016.


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