News and Reviews

ABLV Bank, AS Carried Out Payment of Coupon under Subordinated Bonds

Riga, Latvia, April 23, 2018, 16:34 / Investments

On 23 April 2018, ABLV Bank, carried out payment of coupon to the holders of subordinated bonds of issue series ABLV SUB USD 231023 (ISIN: LV0000801223).

ABLV Bank Shareholders Appoint the Fourth Liquidator

Riga, Latvia, April 23, 2018, 12:00 / Banking

On 23 April, 2018, an extraordinary shareholders’ meeting took place, at which sworn attorney Eva Berlaus was elected as the fourth liquidator of the bank.

ABLV Submits a Letter of Response to FinCEN

Riga, Latvia, April 20, 2018, 09:07 / Banking

On Tuesday, 17 April, ABLV’s attorneys from WilmerHale law firm’s U.S. office submitted a letter to the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury providing a response to the Notice FinCEN released on 13 February 2018. The letter is published on website www.regulations.gov. In the letter, the attorneys refer to more than 50 documents, which are provided in the attachment to this letter.

About Working Schedule on Easter Holidays

Riga, Latvia, March 29, 2018, 09:34 / Banking

We hereby inform that due to the Latvian public holidays, ABLV Bank, AS and ABLV Capital Markets, IBAS will not operate on Friday, 30 March 2018, and Monday, 2 April 2018.

The Court Recognises the Soundness of ABLV Bank Luxembourg, S.A. Which Can Now Be Sold to New Investors

Riga, Latvia, March 9, 2018, 14:26 / Banking

The Luxembourg Commercial Court (Tribunal de Commerce de Luxembourg) has decided today to refuse the request to place ABLV Bank Luxembourg, S.A. in liquidation.

About Potential Rejections of Credit Institutions to Execute Payments to ABLV Bank, AS for Covering Loan Obligations

Riga, Latvia, March 9, 2018, 11:10 / Banking

The bank hereby informs that the decision of the Financial and Capital Market Commission (FCMC) of 18 February 2018 about imposing payment restrictions, and the decision of 23 February 2018 about occurrence of unavailability of deposits with ABLV Bank, AS, and the decision of the extraordinary meeting of shareholders of 26 February 2018 about voluntary liquidation of the bank do not impede clients’ rights as borrowers to carry out payments from other credit institutions to ABLV Bank, AS for covering obligations.

On ABLV Asset Management, IPAS Fund Management Activity

Riga, Latvia, March 7, 2018, 11:53 / Investments

Taking into consideration the restrictions imposed on ABLV Bank, AS, the sale and purchase of investment certificates of the funds managed by ABLV Asset Management, IPAS are currently suspended.

ABLV Bank Submits Draft Voluntary Liquidation Plan to Financial and Capital Market Commission

Riga, Latvia, March 5, 2018, 17:42 / Banking

On Monday, 5 March, ABLV Bank submitted a draft voluntary liquidation plan application to the Financial and Capital Market Commission. The aim of the liquidation measures is to satisfy all claims of clients and creditors in full.

On Disbursement of Guaranteed Compensation

Riga, Latvia, March 2, 2018, 14:00 / Banking

This is to inform that the procedure for disbursement of guaranteed compensations to the eligible clients of ABLV Bank (hereinafter – the Bank) in accordance with the Deposit Guarantee Law has been determined. Given that the funds are unavailable to the clients of the Bank already since 19 February 2018, it was decided to commence disbursement of compensations sooner than the law provides – starting from 3 March 2018, it will be done by Citadele banka, AS.

ABLV Asset Management, IPAS Changes Custodian Bank for Its Pension Plan

Riga, Latvia, February 28, 2018, 19:45 / Investments

Second pillar pension manager ABLV Asset Management, IPAS signed an agreement with ABLV Bank, AS about termination of the contract on custody services, and concluded a contract with Citadele banka, which will become the new custodian bank for the ABLV Active Investment Plan. In a few days, an appropriate order about transfer of all assets of the plan, including funds, to Citadele banka will be issued.

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