The “PNB Bank” in Latvia Commence the Payouts of Guaranteed Compensations – Claim your Assets

In previous Article we discussed the fact that Financial Supervisor in Latvia suspended “PNB Bank” Financial Operations.

On August 22nd, 2019th, the PNB Bank has initiated the compensation payout to its’ customers. Under the national legislation, bank’s customers are eligible to a PNB Bank guaranteed compensations in Latvia of up to 100’000 EUR.

The national legislation allows an exception for physical persons allowing to claim amounts of up to 200’000 EUR in case the deposited assets were amounts of money deposited within 3 months of the initial deposits, on transactions with regard to personal immovable property; social benefits paid to the person, compensations and, in cases specified in regulatory enactments, deposits for other social purposes; money paid as compensation for the damages  of a criminal nature or for the false conviction of a person in accordance with the procedures specified in regulatory enactments.

In all other cases, to claim amounts exceeding 100’000 a creditor’s claim will have to be filed if liquidation or bankruptcy of “PNB Bank” commences.

Notably, the Latvian Financial Regulator (FKTK) on the August 22nd, 2019th, has submitted a bankruptcy claim against “PNB Bank” to the court, due to doubts that “PNB Bank” can fulfill its’ financial obligations against their clients.

This article was about PNB Bank compensations in Latvia.


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


message_contactusmes

The “PNB Bank” in Latvia Commence the Payouts of Guaranteed Compensations – Claim your Assets

Your message was sent. Thanks

Get your FREE Copy
of Guide to do Business in the Baltics

Your message was sent. Thanks

Gencs photo

About Valters Gencs

In many regards, Latvian advocate Valters Gencs is the archetypal modern Baltic attorney – US educated, willing to take a commercial risk with his firm, which has been successfully operating for almost 16 years.  

Read more.

Our Team

Our team consists of knowledgeable and experienced advocates, lawyers and tax consultants in the Baltic States. Our professionals will find the most appropriate solution for your situation. 

OurTeam

Our knowledge

Our knowledge

Gencs Valters Law Firm has a 20-year practical experience in legal services, tax consulting, mergers and acquisitions, banking law, finance consulting, corporate, intellectual property, immigration and litigation.