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
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