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Ceturtdiena 22.03.2018 | Name days: Tamāra, Dziedra

Krajbanka creditors out protesting to get back their deposits

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Friday, April 20, Latvijas Krajbanka creditors gathered in front of the Finance Capital and Market Commission building at 09:30 a.m. and in front of the Riga District Court at 10:40 a.m. in a protest act to try and fight for their rights to recover their lost deposits.

Krajbanka creditors expressed their position against the current situation and the actions of the insolvency administrator, for which the Court received numerous complaints, including requests to remove the current insolvency administrator, protest act organizers report.

Depositors are awaiting an active state, bank monitoring Finance Capital and Market Commission’s, insolvency administrator’s and Court involvement in resolving and directing the process, because they believe that the state should also be responsible for what had happened.

On Friday, April 20, at eleven o’clock in the morning, Riga District Court is to review the Latvijas Krajbanka’s insolvency administrator’s KPMG Baltics proposal on starting the bankruptcy process.

«We anxiously await the Court verdict, because the decision on the probability of depositors reclaiming their money is in the hands of the Court right now. Unfortunately, the current insolvency administrator is ignoring creditors’ interests, as well as making incompetent decisions in the insolvency process. The Court is the depositors’ only hope. Changing the insolvency administrator could leave some hope for depositors to receive their money back», – notes Credit institutions ‘depositors and creditors’ associations authorized representative, attorney at Law Janis Avotins.

At the same time, the Court has to review more than ten different complaints, including those of Travelvia, Andris Argals’, WK Corporate Services LTD, Riga City Council and other complaints about the activities of the insolvency administrator.


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