Amber Beverage Group Holding S.à r.l. informs that, on 5 October 2026, its subsidiary, JSC “Amber Latvijas balzams” (hereinafter – the “Company”), submitted an application to the Riga City Court for the termination of the legal protection proceedings (hereinafter – “LPP”).
The Company’s LPP measures plan, which was submitted to creditors on 28 September 2026, did not receive the required approval from the relevant creditor groups and, therefore, was not approved. The plan provided for the full repayment of the principal amounts owed to secured creditors, including the State Revenue Service, as well as the full repayment of principal amounts owed to suppliers and service providers. The claims of bondholders were preserved in full. The plan was based on the Company’s four-year cash flow forecast and provided for additional creditor control mechanisms.
The Company notes that, during the approval process, a third party acquired a majority of the claims against the Company held by Luminor Bank AS and UBS AG, thereby obtaining significant influence within the secured creditors’ group. During the approval process, conditions were proposed which, in the Company’s view, would have resulted in significant influence over and control of the Company being transferred to the respective creditor. At the same time, within the unsecured creditors’ group, the bondholders demanded that a substantial portion of the liabilities be covered from the Company’s funds, although these liabilities arise from a guarantee provided by the Company in respect of the obligations of its parent company. The Management Board did not agree to such conditions, as, in its view, their implementation could have materially prejudiced the position of the Company’s other creditors.
The Company has brought to the attention of the competent law enforcement authorities circumstances which, based on the information available to the Company, may indicate coordinated actions aimed at obtaining control over the Company. The Company leaves the legal assessment of these circumstances to the competent authorities.
Notwithstanding the failure to obtain approval of the plan, the Company continues its business operations. Since the commencement of the LPP, the Company has paid EUR 20.46 million in current taxes, provided EUR 1.77 million in excise duty security, and has not incurred any new overdue liabilities. Production in Riga continues, and the Company continues to meet its current obligations towards employees, suppliers and the state, while maintaining its excise duty licence.
In the coming period, the Company’s Management Board, together with its legal advisers, will assess the further legal and procedural options available to preserve the Company’s operations, production and jobs. The Company will inform the market of any material decisions in accordance with the applicable regulatory requirements.