Creditor Compliance Review

Creditor compliance review constitutes an essential part of voluntary liquidation process. Creditor compliance review is a set of measures approved by the Financial and Capital Market Commission (hereinafter – the FCMC) and the Financial Intelligence Unit of Latvia, aimed at management of risks related to money laundering, financing of terrorism and proliferation, as well as sanction violations in the course of Company’s liquidation. These measures are implemented by an independent consultant.

Payouts to recognised creditors are made only after creditor compliance reviews are completed and there are no legal obstacles.

The FCMC supervises voluntary liquidation, including creditor compliance review:

Information on relevant legislation in force in the Republic of Latvia, including that adopted by the FCMC, as well as other documents, is available in Latvian and English at the FCMC website.

In order to ensure efficient creditor compliance review, please submit information requested for the purpose of the said review as soon as possible.