Monitoring of ABLV Bank voluntary liquidation process and information to investors

  • Section:

Liquidators’ roles and responsibilities

  • ABLV liquidators’ roles and responsibilities are stipulated by the Credit Institution Law
  • ABLV liquidators have entered into an agreement with an international sworn auditors’ team from the firm Ernst&Young (EY), the main tasks of which are:
    • To draw up Methodology for monitoring AML/CTF/Sanctions compliance to prevent possible money laundering, infringement/circumvention of sanctions requirements in the pay-out and asset sales processes;
    • To carry out screening of creditors/potential purchasers of bank assets in line with the Methodology drawn up by EY and approved by the ABLV liquidators.

ABLV creditors’ reviews

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FCMC’s oversight:

  • To supervise ABLV asset management and compliance of voluntary liquidation process with laws and regulations
  • To monitor liquidators’ operations and their compliance with laws and regulations
  • To monitor compliance of voluntary liquidation process with AML/CTF/Sanctions requirements, including in the course of drawing up the Methodology and creditors’ review
  • To supervise whether the interests of creditors are protected within the voluntary liquidation process
  • To monitor compliance of the process with the ABLV Liquidation Plan, which formed the basis of the Commission’s decision (of 12.06.2018) to authorise the opening of ABLV voluntary liquidation.

Customer and creditor service and contact details:

Information on the voluntary liquidation process and key issues is available on the ABLV website.

In case any questions arise, the Commission invites at all times to reach ABLV first to obtain an answer. Contact details for ABLV available on the ABLV website.

For communication with ABLV, it is also proposed to use internet banking for receiving up-to-date information, sending applications and receiving statements. Information is available on the ABLV website.

Information to depositors

In accordance with Section 3 of Deposit Guarantee Law depositors may receive within five years from the date of the occurrence of unavailability of deposits in a credit institution. Starting with 26.02.2023, eligible depositors of AS ABLV Bank (in liquidation), who have not yet received guaranteed compensation, will lose their right to the guarantee compensation.

Contact details for ABLV Bank clients regarding guaranteed compensation:

ABLV Bank client lines: +371 67775555, +371 67775222
ABLV Bank e-mail: info@ablv.com

FCMC client lines: +371 67 774 983, +371 67 774 831, +371 67 774 800, +371 67 774 801
FCMC e-mail: fktk@fktk.lv

All customers and creditors may submit to the FCMC their applications and claims on ABLV. This information will be processed by the FCMC in accordance with the procedures and timeframe specified in laws.

Contacts


Address:
Kungu iela 1, Riga, LV-1050
Phone:
6 7774800
E-mail:
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