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It is possible that the application for legal protection proceedings was filed by the newly-appointed BAS board members, believes BAS attorney Viktors Tihonovs.

Former BAS co-owner Bertolt Flick said that the new board of the company did not have the right to file such an application, and that he would consider further steps in the given circumstances, writes LETA.

The new board of BAS, Janis Bankovs and Edijs Ziedins, was elected after Latvijas Krajbanka administrator KPMG Baltics decided on February 6 this year to sell the shares of BAS, put up as security with Krajbanka, to its subsidiary Atlantijas biroji. Flick claims that the BAS takeover had been illegitimate, which is why he turned to the Vidzeme District Court, which in turn introduced several restrictions on February 24 that the new board of the company had to observe.

The court prohibited the new BAS board members from representing the company, stressed Tihonovs, adding that he did not know who had filed the application for legal protection proceedings.

Riga Central District Court on February 27 received a BAS application for legal protection proceedings, but the application was turned down as it had not been drawn correctly. A corrected application was accepted by the court on March 7, as the court found no obstacles to commencing the legal protection proceedings.

BAS was given two months to prepare a legal protection proceedings plan; the court's ruling cannot be appealed.

In the meantime, Riga Central District Court is to review today an insolvency claim against BAS, submitted by Eurobalt Junipro.