Riga’s Central District Court has initiated insolvency
proceedings against DnB Nord Lizings, the Latvian leasing
subsidiary of DnB Nord Banka.
Speaking to Latvian news agency BNS, the court’s
representative, Kaspars Sadausks, said the insolvency case had been
initiated at the request of Rita Skrinda, an insolvency
administrator for the company Shop Service, who claimed that the
lessor had not paid overdue debts.
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DnB Nord Banka’s head of public relations, Teika Lapsa,
dismissed the arguments behind Shop Service’s insolvency claim,
adding that DnB Nord Lizings was one of the largest leasing
providers in Latvia, and that the company’s financial state gave no
indication of becoming insolvent.
“As a shareholder, DnB Nord Banka has always supported and will
continue to support its subsidiary DnB Nord Lizings. The tactics
chosen by Shop Service to deal with their own insolvency issues are
totally incomprehensible, as they have filed an absolutely
unsubstantiated insolvency claim with the court,” Lapsa said.
DnB Nord Lizings had the third largest leasing portfolio in
Latvia at the end of 2008, commanding 13.9 percent of the market.
However, it posted a loss of 207,400 lats (€295,100) at the end of
the year.
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