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Monday 30.03.2020 | Name days: Nanija, Ilgmārs, Igmārs
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Latvian government to decide on dropping litigation against Parex Bank’s former owners

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Parex Bank, Latvia, Viktors Krasovickis, Valērijs Kargins, enforcement   The assessment on whether or not Latvian government should continue or drop the litigations against former Parex Bank owners Valērijs Kargins and Viktors Krasovickis may be completed in about a month, as TV3 programme 900 seconds was told by Economy Minister Ralfs Nemiro on Monday, 10 February.

He said a legal evaluation is needed in order to see how much litigations could cost and how much the state could potentially recover.

«We want to recover everything possible for former bank shareholders to recover,» said Nemiro.

At the same time, he also mentioned there is a risk of the state not recovering anything in the end.

«I believe these people may be cunning, and they might also commence private insolvency,» said the minister.

LTV programme De Facto had previously reported that after receiving an offer from Kargins and Krasovicskis Economy Ministry and its owned public asset manager Possessor are considering the option to end the litigations against Kargins and Krasovickis. The state wants to enforce EUR 230 million from the former bankers. The state has so far recovered amounts worth EUR 8 million and EUR 4.5 million. The trial continues for the enforcement of the remaining amount.


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