On 26 November 2019 the extraordinary meeting of shareholders of ABLV Bank, AS in liquidation (hereinafter – the Company) took a decision on changes in the Liquidation Committee. The meeting approved two new liquidators: Vineta Čukste-Jurjeva and Armands Smans.

Vineta Čukste-Jurjeva is a partner to sworn attorneys firm “Kronbergs Čukste LEVIN” and sworn attorney with more than 20 years of professional experience. Her speciality is commercial law, compliance, regulation and liquidation issues. She has been providing consultations and taking part in restructuring and liquidation processes of several Latvian credit institutions. She is a certified personal data protection specialist.

Armands Smans is an assistant sworn attorney at “Rode un Partneri”, specialising in public law. He has been carrying out protection of clients’ rights and interests in dozens of criminal proceedings. He is an author of several scientific publications and legal opinions, participant of scientific conferences. He has been providing his legal opinions in cases in Permanent Court of Arbitration in Hague (as junior expert) and and Constitutional Court in Latvia (as invitee). He is now a Ph.D. candidate at Law Faculty of the University of Latvia.

The information about the new candidates to the position of a liquidator is presented also to the Financial and Capital Market Commission (FCMC).

The work in the Liquidation Committee shall be continued by sworn attorney Lauma Bērziņa, sworn attorney J.D. Ringolds Balodis, corporate finance and transaction expert Arvīds Kostomārovs, as well as financial transactions and company restructuring expert Andris Kovaļčuks.

The Liquidation Committee shall continue implementing the controlled liquidation plan approved by the FCMC carrying out not only management of the company’s assets in a professional, transparent and lawful way, but also ensuring creditors’ verifications, applying the methodology approved by the FCMC and developed and executed by the independent international consultant EY.

In order to ensure an even more efficient and transparent process of creditors’ verification, the shareholders of the Company decided to grant another EUR 30 million for carrying out independent verifications of the creditors.

At the meeting there was a report about the course of the voluntary liquidation process heard, and shareholders appointed a sworn audit commercial company Nexia Audit Advice, SIA (reg. No. 40003858822) as an auditor for verification of 2019 financial reports and providing opinions.

         Jānis Bunte
         Head of Communication Department
         ABLV Bank, AS in Liquidation
         Tel.: +371 6700 2432
         e-mail: janis.bunte@ablv.com