With the aim to preserve the value of the company’s assets and in order to protect the interests of all the shareholders, the JSC “Latvijas kuģniecība” (LASCO) group company „LASCO nekustamie īpašumi” Ltd have initiated legal protection process that do not involve the court.

 

„LASCO nekustamie īpašumi” Ltd is a LASCO Group’s subholding company for the companies which main assets are real estate objects.

 

“The application of the out of court legal protection process will prevent the insolvency of „LASCO nekustamie īpašumi” Ltd and will preserve the company’s assets from the forced sale during crisis period for the unreasonably low price. After approval the out of court legal protection process will be in force for one year and it will allow to continue the approved LASCO group’s strategy for developing real estate investments, which in the medium term – i.e., in three to five years’ time – will ensure profits for LASCO shareholders from the sale of the real estate investments,” explains Raitis Nešpors, chairman of the Management Board of „LASCO nekustamie īpašumi” Ltd.

 

Additional information:

Ģirts Apsītis

Adviser of the Chairman of the Management Board

Latvian Shipping Company

Phone: +371 67020126

E-mail : ir@lscgroup.lv