Representation of IKI chain stores operator SIA Palink in insolvency proceedings and restoration of solvency

In January 2012 SIA Palink, the third largest food retail chain in Latvia, was unjustly declared insolvent. The case attracted increased public attention as this company of 100 MEUR yearly turnover was declared insolvent for a debt of 20 000 EUR. COBALT advised the company throughout the insolvency process and assisted the management to continue company operations until revocation of the insolvency judgment.