Teksts
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Since 1 August 2010 joint stock company “Reverta” has paid EUR
323,5 million into the State Treasury, with the last payment in May
of this year totalling EUR 5 million. Together with other payments
since 2010 “Reverta” has already paid the state more than half a
billion euros.
Solvita Deglava, Chairperson of the Management Board at “Reverta”,
says: “Over the course of its operation “Reverta” has paid into the
State Treasury a significant amount of financing that can be
channelled to such areas as health care, education or road
maintenance. Considering the politico-economic situation and
challenges that the sector faces our specialists have achieved
nearly the maximum possible results, but we remain realistic. We
have done everything in our power to minimise potential losses for
the state; the assets we received from the previous shareholders
after the splitting of “Parex” were of low quality and changes in
the economic situation have also had an effect, therefore we accept
that losses will have to be acknowledged.”
Due to the fact that “Reverta” recovers loans not only in the
Baltic States, but also in Russia and Ukraine, the Russia-Ukraine
crisis, which began in 2014, and the subsequently weakened
economies of both states continues to have a negative impact on
“Reverta’s” performance indicators. At the moment loan recovery is
becoming increasingly complicated and the amount recovered in CIS
countries in the first quarter of this year has fallen. However,
recent improvements in the judicial system in Latvia providing
support in problematic court proceedings have had a positive
effect.
Over all from 1 August 2010 till 31 December 2014 the state has
received over half a billion euros from “Reverta”. This amount is
constituted by payments of EUR 323,5 million to the State Treasury,
as well as repayment of the syndicated loan guaranteed by the state
together with interest totalling EUR 244,6 million. Furthermore,
approximately EUR 15 million have been paid to the state in various
taxes and fees. Since 1 August 2010 EUR 17,2 million have been paid
in subordinated liabilities.
Additional information:
Reverta is the largest distressed assets manager in the Baltic
countries. The main competencies of the Company are loan
restructuring, debt recovery and real estate management. As of 1
August 2010 Reverta has recovered more than EUR 614.9m from
development and sales of distressed assets.
To learn more about Reverta, please visit the Company’s web page:
www.reverta.lv.
For additional information contact:
Marita Ozolina
Head of Communications and Marketing Department
Phone: 67779142 or 29287169
E-mail: marita.ozolina@reverta.lv
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