OREANDA-NEWS. January 12, 2011. According to information available to the JSC “Latvijas kugnieciba” (Latvian Shipping Company, LSC) daughter company SIA “LASCO Investment” has been declared insolvent with the decision of the Riga city Vidzeme’s suburb court decision of January 3, 2011. SIA „LASCO Investment” is  the LSC Group’s real estate holding and management company.

According to information available to LSC the representatives of SIA “LASCO Investment” were not allowed to participate in the court case and the decision was adopted without considering the revisions of the SIA "LASCO Investment" recovery plan which was supported by the majority of creditors. LSC further comments will be provided after proper analyses of current situation.