With the following Nasdaq Riga informs that on April 24, 2015 the Financial and Capital Market Commission (FCMC) has published the following commentary in the Central Storage System of Regulated Information to AS „Rīgas kuģu būvētava” announcement about the case of insolvency published on February 25, 2015 at 16:43:
(Unofficial translation)
"Financial and Capital Market Commission according to Law on Financial and Capital Market Commission Article 2, section 1 and Article 6 section 2, during surveillance procedures has specified information that according to Law on Financial Instruments Article 64.3 section one, part 2 and Article 64.3 section four is further disclosed to financial instrument market participants to inform them about actual situation.
AS “Rīgas kuģu būvētava” has submitted two statements for claims in Riga City Court of Latgale Suburb (both of those against LLP NORDWEG SHIP REPAIR). The first statement for claim was submitted on 01.08.2014 though on 10.09.2014 court sent it back to the plaintiff. The second statement for claim was submitted on 16.09.2014. and on 9.02.2015. sent back to the plaintiff. According to information provided by Riga City Court of Latgale Suburb the company had not submit rectification of deficiencies within required term. For this reason according to information provided by Riga City Court of Latgale Suburb court proceedings have not been initiated for any of the two claims.
The third statement for claim was submitted in Riga City Court of Latgale Suburb on 24.02.2015 and on 03.03.2015 with judge decision the statement was left without proceeding. At the same time appeal to the judge decision has been submitted and the case is now in appeal court in Riga Regional Court. It is planned to examine the case in appeal court on 07.05.2015.
According to information provided by Riga Regional Court the court proceedings can be recognized as started only after the judge has decided to approve the statement for claim and initiate proceedings (Civil Procedure Law, Article 131, section 1).
According to Civil Procedure Law, Article 133, section 3 and 4:
- If a plaintiff rectifies the deficiencies within the time limit set, the statement of claim shall be regarded as submitted on the day when it was first submitted to the court.
- If a plaintiff does not rectify the deficiencies within the time limit set, the statement of claim shall be considered to not have been submitted and shall be returned to the plaintiff.
Therefore for those financial instrument market participants to whom information about whether the civil case according to AS “Rigas kuģu būvētava” statement of claim is or is not initatated is essential has to take into account this comentary provided by Financial and Capital Market Commission about actual situation on 24.04.2015."
Announcement submitted by AS "Rīgas kuģu būvētava" and original FCMC commentary (in Latvian) are available here.
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