On 23 December 2020, amendments to the Latvian Law on the Suppression of Consequences of the Spread of COVID-19 Infection (the “Latvian Covid-19 Law”) that provide for changes to the regulation of insolvency proceedings came into force. Reimposed suspension of creditors’ right to file for insolvency Pursuant to the amendments to Article 22 Paragraph 1 […]
Keep up to date and stay informed about the latest developments! Watch our senior associate Edvīns Draba’s participation in a COVID Coffee Break webinar here. Other INSOL Europe webinars related to the COVID-19 situation are available here.
A multijurisdictional overview for the central European, southern European and Baltic countries The COVID-19 pandemic has, and will have, an unprecedented impact on the economy of all countries across the globe. Many governments and banks have introduced extraordinary measures to moderate the financial and economic impacts of the pandemic and inevitable domino effect of credit […]
Many companies will likely be forced to deal with debts and liquidity issues – one must act smart and promptly to keep the problems from snowballing, Advice to creditors Stop the snowballing effect! Set the credit limit and ask for advance payments First, take a good look at the credit limits you have set for […]
In Latvia, state funds are channelled to support businesses through the state development finance institution ALTUM. State loans by the state development finance institution ALTUM Small, medium-sized and large enterprises facing financial difficulty due to COVID-19 spread may apply for loans to finance their working capital with subsidized/lower interest rates and decreased security requirements of […]