As KVV Liepajas Metalurgs metallurgical company had missed a payment of EUR 2.7 million that was due to the Latvian state in late 2015, the Treasury has started drawing on the collateral, LNT commercial television reported on Thursday (January 28th) evening, informs LETA.
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The steel plant tried to negotiate
an extension of the payment deadline but failed to meet the conditions set by
the government for debt rescheduling. Therefore the Treasury started drawing on
the collateral provided by KVV Liepajas
Metalurgs. In particular, the Treasury invoked a guarantee issued by
Russias Alfa Bank and valid until
late January.
Kaspars
Abolins, the head of the Treasury, told LNT
that the bank, as requested, had paid the full am…
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