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WALLESS Assisted Depo DIY in Securing Record-High Insurance Payment

2021 03 04

WALLESS assisted SIA Depo DIY, an operator of hardware store chain in the property insurance matter regarding fire in one of its stores. In 2019, the fire broke out in one of Depo DIY’s stores in Rezekne destroying the whole building, all equipment and stocks. ERGO Insurance SE Latvia branch made a payment of insurance indemnity to our client in the amount of EUR 5.8 million which is the largest insurance amount paid by ERGO in Latvia so far and the second largest in the history of Latvian insurance business.

DEPO DIY is the largest do it yourself store chain in Latvia. DEPO DIY was founded in 2004. In 2019, Depo DIY group had a turnover of EUR 321.149 million and profit EUR 11.298 million. DEPO DIY operates 9 stores in Latvia, 5 stores in Lithuania and one store in Estonia.

Partner Zane Eglīte – Fogele, Senior Associates Andis Ozoliņš and Konstantīns Teļakovs worked on the matter.

Read more here.

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