Transfer of Creditor’s Right of Claim

  1. If creditor’s claim is transferred to another person (transferee) due to termination of creditor’s operation (creditor’s operation can be terminated by the decision of creditor’s governing body, court ruling, decision of the commercial register or tax administration in creditor’s country of registration on excluding creditor from the commercial register, commencement of bankruptcy proceedings, or in other instances set forth in applicable legislation or creditor’s articles of association), creditor’s application should be supplemented with documents attesting to the claim transfer and providing documentary evidence of the following (corporate actions):
    1.1. decision on commencement of liquidation or bankruptcy proceedings, or decision on excluding creditor (in liquidation or not) from the commercial register;
    1.2. decision on appointment of liquidator or administrator identifying that person;
    1.3. decision on planned distribution of residual assets, including funds and right of claim, and on determining liquidation quota,
    1.4. decision on distribution of residual assets, i.e., transfer of creditor’s assets to transferee (recipient of liquidation quota) indicating assets, including claims against the Company, due to each recipient and
    1.5. decision on exclusion of creditor from the commercial register of creditor’s country of registration;
  2. If according to the submitted documents the recipient of liquidation quota is creditor’s ultimate beneficial owner, creditor’s application should be supplemented with a declaration of trust or trust agreement attesting to the relation between creditor and the recipient of liquidation quota – the ultimate beneficial owner;
  3. If creditor’s claim is transferred to another entity (transferee) due to termination of creditor’s operation and such a transfer is regulated by legislation of another country, contents and form of all documents submitted with regard to such a transfer of claim should comply with the legal requirements for transfer of claim in the relevant country. In addition to documents submitted by creditor, ABLV Bank, AS in liquidation (hereinafter — the Company) may request an attorney practicing in the respective country to give a legal opinion on requirements for transfer of claim, as well as an opinion on accuracy and sufficiency of submitted documents. Creditor should reimburse the costs arising to the Company from use of attorney’s services, and payment should be made in advance in accordance with provisions of the agreement concluded for that purpose between the Company and creditor;
  4. If a legal opinion given by an attorney practicing in creditor’s country of registration indicates the need for documents not listed in Paragraph 1 above, the above-mentioned list of documents should be deemed non-exhaustive, and creditor’s application should be supplemented with both documents indicated in attorney’s opinion and in Paragraph 1 above;
  5. Documents supporting the claim transfer should comply with Company’s requirements and legal requirements for transfer of claim in the relevant country.