Ventspils nafta                                             24.02.2005.



JSC “Ventspils nafta” submits a collateral claim



JSC “Ventspils nafta” submits a collateral claim on the court’s ruling to 

refuse registration of the resolutions of the Shareholders’ Meeting 

of JSC “Latvijas kuģniecība”



JSC “Ventspils nafta” has submitted to the Civil Chamber of the Riga 

Regional Court a collateral claim on the ruling of the Riga Centre District 

Court as of 14 February 2005, under which the claim advise of Edijs Kizenbahs 

to secure the claim was satisfied, prohibiting registration in the Enterprise

Register of LR the changes in the membership of the Council of JSC “Latvijas 

kuģniecība”, approved at the Shareholders’ Meeting of JSC “Latvijas kuģniecība”

on 11 February 2005, and the resolutions passed later by the Council elected 

on 11 February 2005.



JSC “Ventspils nafta” appeals against this court’s ruling as it is contrary 

to the Article 137 of the Civil Procedure Law, that states that the claim is 

to be secured if there are basis to consider that fulfilment of the court’s 

ruling might become difficult or impossible, and claim securing is allowable 

only in the claims of a material nature.



Besides, E.Kizenbahs has no claiming right in respect of the claim on the 

resolution of the Extraordinary Shareholders’ Meeting of JSC “Latvijas 

kuģniecība” of 11 February 2005 on recognition of the changes in the membership 

of the Council of JSC “Latvijas kuģniecība” to be invalid. E.Kizenbahs has 

provided false information in his claim advise on participation of his 

representative at the Shareholders’ Meeting of JSC “Latvijas kuģniecība” on 

11 February 2005. The Extraordinary Shareholders’ Meeting of JSC “Latvijas 

kuģniecība” was convened in the procedure stated in the Article 273 of the 

Commercial Law. According to the legal acts of the Republic of Latvia the 

shareholders had to register blocking of shares until the 1st February 2005. 

As E.Kizenbahs had not blocked the shares owned by him and had no right to 

participate at the Shareholders’ Meeting of 11 February 2005, he had refused 

from participation in the above meeting willingly. Thereby E.Kizenbahs has no 

right to request recognition of the resolutions passed at this Shareholders’ 

Meeting to be invalid, and the court has no basis to secure such a claim.



JSC “Ventspils nafta” considers that the claim of E.Kizenbahs is unjustified 

on its merits.



JSC “Ventspils nafta”

For information -

Gundega Vārpa,

Phone 7229793; 

e-mail: gundega.varpa@vnafta.lv