Liquidation of ABLV Bank in Latvia (Part III)

On our last Article about liquidation of ABLV Bank in Latvia we listed the order how the remaining funds are distributed for covering creditors` claims principal sums (without %).

After complete coverage of the creditors' claims mentioned on previous Article, the remaining funds shall be distributed for coverage of the following creditors' claims:

1. remaining legal creditors` claims of the ABLV Bank (principal sum with %), also claims of such creditors which have obtained the status of a creditor after initiation of insolvency proceedings or liquidation.

Deferred tax payments, remaining deposits of natural persons and salary debts, as well as other payments arising from employment relations shall be treated as if they were claims of this round.

If creditor's deposit has been insured and the creditor has received insurance compensation, the claims of the relevant insurance company (fund) against the credit institution shall be treated as if they were claims of this round; 

2. creditors` claims submitted after the specified time period;

3. claims arising from debt securities the term of discharge of which is least one year according to the prospectus.

Issued debt securities with a variable interest rate;

4. claims regarding the funds which creditors have loaned to credit institution for definite time period with the condition that they may be requested before the expiration of such time period only in the case of liquidation.

The claims of each subsequent round of creditors shall be satisfied only after complete satisfaction of the previous round of creditors.

If the funds of the credit institution are insufficient to fully satisfy all claims of the creditors of one round, such claims of the ABLV Bank shall be satisfied proportionately to the amount due to each creditor within the framework such round.

 

Which tier is your claim?

 

If you are interested to ensure your asset rightful recovery, please contact Gencs Valters Law Firm lawyers by writing to info@gencs.eu

T: +37167240090

F: +37167240091

www.gencs.eu

www.attorneys-at-law.eu

www.lavvocato.eu

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Liquidation of ABLV Bank in Latvia (Part III)

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