Riga Court restores solvency of subsidiary of JSC “Latvian Shipping Company”
On Monday, August 24, the Riga City Vidzeme Suburb Court decided to restore fully the solvency of LLC “LASCO Investment” – subsidiary of JSC “Latvian Shipping Company”. The decision was made following the settlement among company’s creditors.
As reported before, on August 3, 2015, the activity of the Board of LLC “LASCO Investment” was restored. Robert Kirkup was appointed Chairman of the Board for a three-year term, but Girts Apsitis was elected the only Member of the Board.
About JSC “Latvian Shipping Company”
JSC “Latvian Shipping Company” is among the biggest vessel owners in the segment of medium and handy size tankers and takes leading positions in terms of the transported amount of petroleum products among similar companies in Northern Europe. The company owns 16 modern vessels employing more than 500 professional and high-skilled seamen from Latvia. Besides, it is technically serving four more vessels, thus managing a fleet of 20 vessels. The average age of the LASCO fleet is 8 years. All of the vessels have received ISM (International Safety Management) certificates.
