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“Latvijas balzams” comment about court proceedings

The management of AS “Latvijas balzams” informs that the judgment of the Court of Cassation in proceedings between interior design and restoration firm SIA “Interjeru iekārtošanas un restaurācijas firma “Ierosme”” (Ierosme) and AS “Latvijas balzams’ (Company) was received.

As it was already previously mentioned in 2018 Annual report of the Company, in 2010, Ierosme brought an action against SIA “Daugavgrivas 7” for the recovery of a debt and contractual fine of EUR 248 291.10 in total. Meanwhile, SIA “Daugavgrivas 7” also brought a counterclaim against Ierosme, claiming for damages of EUR 881 874.37 and offsetting.

Following the merger of SIA “Daugavgrivas 7” with AS “Latvijas balzams”, the Company assumed the rights and obligations of SIA “Daugavgrivas 7” as a defendant in a lawsuit.

In September 2019, the Senate of the Republic of Latvia decided to repeal judgment of the Supreme Court and referred the case for a new hearing.

AS “Latvijas balzams”
Chairman of the Management Board
Intars Geidāns