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5. Bankruptcy Proceedings and Status | 8 Step Guide
5. Bankruptcy proceedings and status, including historical information about terminated proceedings.
Companies can undergo suspension or termination by either the tax authority or the commercial register office under various circumstances. In the event of activity termination, the Latvian company undergoes liquidation proceedings. It is prohibited by law for any company to engage in transactions with a company whose economic activities have been suspended.
Detailed information about both current and historical proceedings can be obtained at https://maksatnespeja.ur.gov.lv/insolvency/search/en
8 Steps for Trusting a New Business Partner from Latvia | Cross Border Deals
By obtaining publicly available information in this manner a company can make better-informed decisions and avoid potential risks. Checking registrations, evaluating financial stability, and even doing a quick online search can infuse further confidence in the transaction’s and business partner’s integrity and suitability. Switching to English on websites of state institutions might limit access to the same comprehensive databases available in Latvian, resulting in less information and poorer functionality.
What to do in case of uncertainties?
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