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The court asks for the insolvency of the dairy company Baltic Dairy Board, Ltd
Emitents Baltic Dairy Board, SIA (9676003WOZ19K9GDVC97)
Veids 2.2. Iekšējā informācija
Valoda EN
Statuss Publicēts
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Datums 2018-05-10 13:21:27
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Teksts

We would like to inform you that on May 9, 2018, the Zemgale District Court in Bauska has filed an application for insolvency of Z / S "Jumis" to SIA Baltic Dairy Board.

SIA Baltic Dairy Board (hereinafter - the Company) confirms the existence of the debt, however, due to the restructuring of the Company's production, as by 2018 the Company concentrates its activities / production on the biotechnology product, i.e. the production of a variety of GOS (galacto-oligosaccharides) in the form of syrup and powder, there is currently a limited ability to pay to creditors.

The regulatory framework of the Latvian legislation envisages legal instruments for the restoration of the solvency of financially distressed entities, and the Board of the Company is currently actively working on the implementation of a set of legal measures, including economic, organizational and technological measures aimed at restoring the Company's ability to meet its obligations in full.

In addition, the Board of the Company informs that the implementation of the legal protection process is also contemplated in the event that the measures implemented will not provide the expected results for the restoration of solvency and the Board will decide on the need for long-term measures to stabilize the financial situation by comparing the interests of the Company and creditors and applying the legal protection procedures specified in the Insolvency Law. 

         Additional information:
         Kaspars Kazaks
         Chairman of the Board
         Phone +371 26010072
         e-mail:kaspars@bdb.lv

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