Viktoras Kozyakovas claims there have been cases when he faced pressure or heard threatening hints. He also says that he was stunned when reading online that the dispute between Preskonita and J.L. Invest moved to Latvia’s Supreme Court last September, although the Lithuanian shareholders were absolutely unaware of the fact.
“... I have never come across such insolent attitude, either in Russia or in Lithuania, even in the 1990s, the peak of racketeering,” he said.
Initially Kozyakovas noted that the partners attempted to control Preskonita through the supply of raw materials. Shortly thereafter, J.L. Invest came up with numerous proposals to distribute earnings each month or each quarter and even demanded to distribute earnings in advance, which was not practiced in Lithuania. According to Preskonita’s CEO, the Latvians also started working out tax evasion schemes.
The auditors hired by Preskonita have found out that the company lost 1 million litas (EUR 0.29m) in 2012 due to the behavior of its Latvian partners and might suffer big losses once again in the near time.
The Vilnius Regional Court stated last May that the Latvians had harmed its business partners and obliged J.L. Invest to sell 50 percent of Preskonita’ shares to one of the owners of the Lithuanian company at the price established by the court experts. However, Latvia’s businessmen challenged this decision in another court.
