Pirates of Prague? Czech billionaire raids Latvian drug giant
Latvian police have detained a representative of the Czech company Black Duck Invest. The company was attempting to take over one of Latvia’s best-known companies, Olainfarm. Czechs are again the main characters in the scandal in Latvia. After a corruption scandal in 2018, which involved the supply of Škoda Transportation of Pilsen to a transport company in Riga, Czech businessmen have again come under the radar of the Latvian police.
Commentary: the Black Duck group around Tomáš Krsko tried to fraudulently take over a stake in a Latvian company, lost 9 lawsuits (including two in the Czech Republic), labeled the PriceWaterCoopers auditor (including others involved) a conspiracy, and now gives advice on the “Czech Internet” on how to make money.
Source : https://www.seznamzpravy.cz/pirati-z-prahy-cesky-miliardar-chce-ovladnout-lotysskou-zentivu
Instructions from a man who knows how to make money: We bought cheap, sold dear
“We are no longer involved in this project. The articles published in the local press were purposely created and organized by a local interest group with a clearly stated goal: to put pressure on us and thus prevent the entry of a foreign investor,” says Jan Černý, head of the Krsko Group.
Source : https://www.seznamzpravy.cz/navod-od-muze-ktery-umi-vydelavat-kupovali-jsme-levne-prodavali-draho
The ongoing fight over Olainfarm shares: ninth loss for Black Duck in Latvian and Czech courts
Adverse court rulings have consistently cast doubt on Black Duck’s claims to have purchased shares in Olainfarm, but now the opinions of two internationally respected companies have joined the court rulings. They retract what Black Duck representative Vojtek Kacena said at a press conference on 4 August 2021 and in a press release that the preparation of the Olainfarm share purchase transaction was a long process in which Olmafarm was represented by PriceWaterCoopers, Czech bank Sorainen and BHM Group Black Duck legal experts from Wales. However, both PriceWaterCoopers and Sorainen categorically deny their involvement in the preparation of the transaction.
Source : https://forbesbaltics.com/ongoing-fight-for-olainfarm-shares-ninth-loss-for-black-duck-in-latvian-and-czech-courts