OREANDA-NEWS. December 16, 2011. JSC “Latvijas kugnieciba” (NASDAQ OMX RIGA: LSC1R) informs that today it has received an official announcement from the company’s Supervisory Council member Olga Petersone on leaving the position.

Petersone’s resignation notice was received just before the shareholders’ meeting of JSC “Latvijas kugnieciba” which is planned tomorrow, December 7. The agenda of the meeting is dismissal and re-election of the Supervisory Council. Previously O.Petersone was nominated for the position in the Supervisory Council by the State Social Insurance Agency, which holds 10% of the state-owned shares of the company.

JSC “Latvijas kugnieciba” (LK) has pursued four claims in court against Olga Petersone and other Supervisory Council members. One of them is pursued on the considerable remuneration that was groundlessly paid to the former Supervisory Council members in the period of time from February 2008 until the end of 2010. Within this claim, inter alia, LK requests to recover the unfairly received remuneration from Petersone as the former member of the LK Supervisory Council, which is over 180 thousand lats.

As reported earlier, on October 28 of this year the Civil Matters Division of the Riga Regional Court passed a ruling on securing the claim, by seizing the property of several former members of the Supervisory Council of JSC “Latvijas kugnieciba” (LK), including the real property owned by Olga Petersone, for the claim amount up to LVL 187’161. The Regional Court’s ruling is immediately enforceable and is not subject to appeal.

JSC “Latvijas kugnieciba” has also pursued a number of other claims on causing losses against the former members of the LK Supervisory Council, inter alia against Olga Petersone. The total amount of the claims pursued by LK against the 12 former members of the company’s Supervisory Council is 12.84 million lats.