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Latvian Supreme Court rules Palink solvent

UAB „Palink“ generalinis direktorius Marcelis Harasztis
Irmanto Gelūno / 15min nuotr. / „Palink“ CEO Marcel Haraszti
Šaltinis: BNS
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The Latvian Supreme Court ruled on Wednesday that Latvia's Palink is solvent, thus overturning a Riga court's decision to declare the company insolvent.

The Supreme Court's decision is not subject to appeal, Lithuania's Palink said.

"The Supreme Court's decision finally proved that we were right. Admittedly, we will still have to wait for the Riga Kurzeme District Court's decision," Marcel Haraszti, CEO of Lithuania's Palink, which owns the Latvian company, said in a press release.

He said that he believes that this time the Riga court "will property assess the company's solvency and the company will be able to return to normal business operations and carry out its further investment plans in Latvia."

Haraszti expects that Latvia will soon amend its Insolvency Law in order to prevent other companies with successful operations in the country from finding themselves in similar situations.

BNS
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Dakaras 2018