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Banks Upset About "Jingle Mail" Option In Latvia's New Insolvency Legislation

New amendments to the Latvian insolvency legislation allowing struggling mortgage holders to mail their home keys to their lenders to get rid of their loan obligations have seriously upset banks, Latvia's Dienas Bizness daily reported on Thursday. T ...

Daily Headline - global.abi.org - 09/25/2014 - 21:22 - 0 comments

Ukraine's KVV Group To Buy Latvia's Insolvent Steelmaker

Ukraine's KVV Group has offered to buy Latvia's insolvent steelmaker Liepajas Metalurgs for 107 million euros ($138 million), the insolvency administrator said on Tuesday, Reuters reported. Liepajas Metalurgs, the only producer of rolled steel ...

Daily Headline - global.abi.org - 09/09/2014 - 21:19 - 0 comments

Justice Ministry Scraps Bordans' Reforms To Straighten Out Insolvency Administrator System

In a highly controversial move, the Justice Ministry of Latvia has scrapped former Justice Minister Janis Bordans' submitted reforms to straighten out the insolvency administrator system in Latvia, LETA was informed by Justice Ministry Parliamentary ...

Daily Headline - global.abi.org - 06/11/2014 - 19:45 - 0 comments

EUR 1.3 Million Already Spent On Maintaining Liepajas Metalurgs Since Insolvency Declared

Since the insolvency of metallurgical company Liepajas metalurgs was declared this past November, EUR 1.3 million has already been spent in maintaining the company and its equipment, the company's insolvency administrator Haralds Velmers said, The ...

Daily Headline - global.abi.org - 01/27/2014 - 18:38 - 0 comments

Number Of Insolvency Cases Continued To Grow In Latvia In 2013

2,380 insolvency cases against individuals and legal entities were launched in Latvia in 2013, 125 cases more than in 2012 and 723 cases more than in 2011, according to the Register of Enterprises' Lursoft data, cites LETA/Nozare.lv. Nevertheless, t ...

Daily Headline - global.abi.org - 01/08/2014 - 08:50 - 0 comments

Latvia Joins Euro Zone Amid Public Fears Of Price Rises

Latvia’s leaders and the European Union have hailed the Baltic state’s adoption of the euro, amid widespread public fears over possible price rises and the future of the single currency, the Irish Times reported. As fireworks erupted over Latvia’s ca ...

Daily Headline - global.abi.org - 01/03/2014 - 01:28 - 0 comments

Liepajas Metalurgs Starts Insolvency

The Liepaja Court has a launched insolvency process against the financially-troubled metallurgical company Liepajas Metalurgs, reports LETA. The court has decided to halt the companies legal protection process and launch an insolvency process against it, ...

Daily Headline - global.abi.org - 11/13/2013 - 21:46 - 0 comments

Liepajas Metalurgs Insolvency Cannot Be Ruled Out

In an interview on Wednesday morning's edition of the Latvijas Neatkariga televizija (LNT) news program "900 Seconds", Prime Minister Valdis Dombrovskis (Unity) said that the insolvency of financially troubled metallurgical company Liepaja ...

Daily Headline - global.abi.org - 10/09/2013 - 20:19 - 0 comments

Eurozone-Bound Latvia Shrugs Off Talk Of Offshore Paradise

Eurozone-bound Latvia is scrambling to defend the reputation of its banking sector amid allegations it is becoming an easy access tax haven, and even a money laundering hub, France 24 reported on an Agence France-Presse story. Prime Minister Valdis Dombr ...

Daily Headline - global.abi.org - 08/04/2013 - 16:41 - 0 comments

Latvia Decides To Apply For Euro Zone Entry

Small Baltic state Latvia decided on Monday to apply to join the euro zone next year, a sign of the faith in the currency which still exists in eastern Europe after three years which have threatened the project, Reuters reported. Latvia pegged its curren ...

Daily Headline - global.abi.org - 03/04/2013 - 21:26 - 0 comments

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