Amber Latvijas balzams accounts remain frozen as ex-premier Skele rejects owner Sefler's accusations
The accounts of Amber Latvijas balzams, Latvia's largest alcohol producer, remain blocked over an unpaid debt of 28 million euros. Former prime minister Skele rejects accusations made by the company's owner, Sefler.
The bank accounts of Amber Latvijas balzams (Latvijas Balzams), the largest alcoholic beverage producer in Latvia, are still blocked. The State Revenue Service (VID), Latvia's tax authority, froze them because the company has not yet repaid a debt of 28 million euros. The debt began to build up in September last year.
According to Latvian Radio, one of the company's creditors is urging its management to hold negotiations and is offering its own solutions for getting out of the difficult financial situation. This creditor acquired the rights to claim the producer's debts only this autumn.
Skele's response to the accusations
The situation at the company has also been accompanied by accusations made by its owner, Sefler. Former Latvian prime minister Skele rejects these accusations.
The source report gives no further details on what exactly the accusations are or how Skele responds to them, so no additional information is available on that point for now.
Why it matters
Frozen accounts mean that the country's largest alcohol producer is operating under difficult financial conditions until the debt is resolved. At the same time, the creditor's offer to start talks suggests that possible ways of settling the situation are being explored.
