Plaude-Relingere ordered to pay

RIGA - Last week the Riga District Court ruled in favor of an appeal by Parex Bank and ordered Ieva Plaude-Relingere, businessman Janis Lasmanis and DK Holding, formerly known as Holding Kolonna, to repay a debt of 1.8 million lats (2.5 million euros), reports news agency LETA. Parex Bank turned to the Prosecutor General’s Office this past January, protesting the insolvency of Kolonna group founder and shareholder Ieva Plaude-Relingere.

The bank believes that Riga Vidzeme District Court’s decision to declare Plaude-Relingere insolvent was unfounded, and claims that several procedural and legal provisions were violated when the court reviewed Plaude-Relingere’s insolvency application, Parex Communication and Marketing Department head Marita Ozolina-Tumanovska said at the time.
The bank also believes that the court has not evaluated evidence provided by Parex, proving that Plaude-Relingere’s transactions three years before the opening of the insolvency procedures were the cause of the businesswoman’s insolvency as these transactions seriously undermined her financial situation.

Parex believes that these transactions were meant to help Plaude-Relingere dodge her liabilities, and infringed upon her creditors’ interests. Parex also claims that Plaude-Relingere provided incomplete or untrue information about her properties.
The bank previously filed lawsuits against several Kolonna group enterprises and Plaude-Relingere. The reason for this was Kolonna and Plaude-Relingere’s multiple failures to honor their obligations to Parex.

Plaude-Relingere, founder and shareholder of the beauty salon/cosmetics company Kolonna, was ruled insolvent by Riga Vidzeme District Court on Dec. 7 last year. Bankruptcy proceedings are expected to continue for five years.

Holding Kolonna Group, founded in 1991, operated in 2009 with a turnover of 105 million euros. The concern includes 21 companies and employs a total of 971 people.