Latvia, Legislation, Markets and Companies

The court appointed Ilze Vege as an administrator at FK Riga. Vege told LETA that FK Riga was involved in commercial activity in the interests of football club "Riga", because a non-commercial organization cannot do it under the law.

According to Vege, she only learned today about the November 13 decision of the court to appoint her FK Riga's administrator.

Vege also said that she had not yet acquainted herself with all the facts listed in the insolvency petition, therefore she cannot yet say why the individual – Jurijs Melnicenko – requested FK Riga be declared insolvent.

Melnicenko is head coach of the team.

Sadauskis said that the Riga Central District Court will review the insolvency next Tuesday, November 25.

Vege said, on the other hand, that she could ask the court to postpone review of the petition because there is too little time left for her to request and receive information about the debtor's financial situation, which is necessary for preparing the administrator's report.

According to the Registry of Enterprises data Lursoft, FK Riga was registered on March 8 last year. The football club "Riga" has a 45% share in the club, and the Russian company Alpina-Mos a 55% interest.

Russian citizen Igor Pelevin is the board chairman at FK Riga, the company's board also includes Russian citizen Nikolai Skorokhodov, as well as Pavels Lihacevs and Andrejs Sakurovs.

According to information on the "Riga" website, the club was established on January 4, 1999, and registered with the Registry of Enterprises on February 11, 2000.

The initial founders of the club were the Riga City Council's Sports Administration, the Freeport of Riga Authority, the non-profit organization Sporta klubs Riga, the Interior Ministry's Sentry Regiment, the Interior Ministry's State Security Service, the non-profit organization Policijas Futbola klubs and the Riga Football School.