Analysis

Latvian-Canadian footwear jv goes bust

Staff Writer November 5, 2003

Unconfirmed reports from Riga say that a court in Latvia declared the local VentTopaz Latvian-Canadian footwear joint venture insolvent in early October, according to Baltic Business News. The company’s liabilities far exceed their assets. VentTopaz started operation in 2000. Reports indicate that VentTopaz shareholders decided to liquidate the company as long ago as last January.

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