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PRX: PAREX BANKA FILED A CLAIM ON DEFAMATION AGAINST LATO LAPSA TODAY

Spekuliantai.lt | 2011-01-18 | NASDAQ OMX biržų naujienos | perskaitė: 1355
PRX: PAREX BANKA FILED A CLAIM ON DEFAMATION AGAINST LATO LAPSA TODAY

Parex banka Company Announcement 18.01.2011

PAREX BANKA FILED A CLAIM ON DEFAMATION AGAINST LATO LAPSA TODAY



Today, January 18th , joint stock company Parex banka filed a claim on
defamation against Lato Lapsa at Riga City Suburb Court, demanding to withdraw
information offensive to the bank's reputation and to publish an apology.

Parex banka is fully aware that its operation in recovery of State funds has
been and will continue to be of special interest for journalists. This is
logical considering the large financial support granted by the State and the
interest of the society regarding recovery of funds. Parex banka, on a daily
basis, provides information itself and answers journalists' questions related
with the bank's activity.

Chris Gwilliam, Chairman of the Board of Parex banka, emphasizes: “Parex banka
is tolerant towards expressing opinions, understanding that they might not
always be favourable for the bank. However in Lato Lapsa's case, the matter is
defamation by disseminating negative information which is not based on facts.
In fact, considering his purposeful activities against the bank, Lato Lapsa
leaves us with no other choice but to turn to court for assistance”.

Parex banka is open to journalists in any questions. The only exceptions are
cases provided for in Law on Credit Institutions when information is classified
confidential in order to protect and respect interests of clients. Since
split-up of Parex banka, Lato Lapsa has been the only journalist who had
objections in relation with answers given by the bank on submitted requests.

Basically, an impression exists that Lato Lapsa used the bank's overtness
policy not only by requesting information necessary for preparing materials, he
also continuously tyrannized responsible employees with many and difficult to
understand requests. One must add that all requests received answers in good
faith, observing the procedure.

During the last months, Lato Lapsa spread blatantly false information about
Parex banka. The most widely known information is that Parex banka's officials
are telling lies about selling conditions for Vernisāža building, that Parex
banka is released from liability, and others. Actually, Lato Lapsa accuses the
bank's management in unlawful activities, thus causing material damage to the
bank's reputation.

“No matter what Lato Lapsa's motives are, legal assessment of such activities,
withdrawal of disseminated news and apology for defamation and reputation
damage caused is of crucial importance for Parex banka. Indemnity is not
requested in the application,” Chris Gwilliam points out.

Since 1 August 2010 when Parex banka launched its activity as a resolution
bank, simultaneously discontinuing to provide such classical bank services as
account and deposit services, loans and others, the main goal of Parex banka is
to recover State investments to the maximum amount possible. To achieve this
goal, the bank focuses its activity on efficient restructuring of loans, debt
recovery and management of overtaken real estate. Since 1 August 2010, Parex
banka has recovered 60 million Lats which are going to be used for
reimbursement of syndicated loan in May this year.


Marita Ozoliņa-Tumanovska
Additional information:
Head of Communications and Marketing Department
Tel. 67779142 or 29287169
e-mail: [email protected]

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