From 19.11.2019 and 22.11.2019 there shall be consolidated financial reports of the group and separate unaudited condensed interim reports of ABLV Bank, AS in liquidation for the nine-month period ending on 30 September 2019.
News and Reviews
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About changes in the rates and charges
Please be informed that changes to the rates and charges of ABLV Bank, AS in liquidation (hereinafter — the Company) will become effective.
Financial report of ABLV Bank, AS in liquidation for H1
During the first six months of 2019, the Liquidation Committee of ABLV Bank, AS in liquidation (hereinafter – the Company) continued the liquidation process and cooperation with all stakeholders, including state institutions and public officials, ensuring ongoing transparency and openness of the solvent liquidation process.
On Changing Face Value of ABLV Bonds
On 12 July 2019, there was change of face value for each bond of all bonds issued by ABLV Bank, AS in liquidation (hereinafter – the Company) carried out to EUR 0.01 applied to all bonds with face value expressed in EUR, and to USD 0.01 applied to all bonds with face value expressed in USD. Accordingly we are publishing the updated versions of final terms of all issues.
Decision on Liquidation of ABLV Capital Markets, AS
On 3 July 2019, Registry of Enterprises of the Republic of Latvia made an entry to the Commercial Register about commencement of the liquidation process of ABLV Capital Markets, AS, the subsidiary of ABLV Bank, AS in liquidation (hereinafter referred to as Capital Markets).
Luxembourg Commercial Court Ruled to Start ABLV Bank Luxembourg, S.A. judicial liquidation process
Luxembourg Commercial Court has decided to lift the previously imposed protection mechanism for ABLV Bank Luxembourg, S.A. and start liquidation process of the bank. The appointed liquidators of ABLV Bank Luxembourg, S.A. shall be the independent administrators who have been supervising the bank until now – attorney Alain Rukavina from Rukavina Avocats law firm and Éric Collard from DELOITTE Tax & Consulting SARL.
To minimise further losses ABLV Bank Luxembourg, S.A. has agreed to the start of the judicial liquidation process
Given significant financial losses over the extended period since March 2018 and in order to protect the interests of the depositors and shareholders, ABLV Bank Luxembourg, S.A. has decided to agree to the start of the judicial liquidation process.
On Changing Face Value of Issued Bonds
Liquidation Committee of ABLV Bank, AS in liquidation (hereinafter – the Company) has made a decision to carry out change of face value for each bond of all bonds issued by the Company to EUR 0.01 applied to all bonds with face value expressed in EUR, and to USD 0.01 applied to all bonds with face value expressed in USD.
IBAS licence for rendering investment services withdrawn
Following the request from the investment brokerage company ABLV Capital Markets, IBAS, the company's licence for rendering investment services was withdrawn by the Financial and Capital Market Commission on 28 May this year.
On Changes in Liquidation Committee
On 28 May 2019, at a regular shareholders’ meeting, the shareholders of ABLV Bank, AS in liquidation (Company) made a decision on changes in the Liquidation Committee. Given the agreement made upon taking the position, on 1 June 2019 the leading partner of Sorainen Latvian office and sworn attorney Eva Berlaus will resign from a position of a liquidator (last day in position of liquidator – 31 May 2019).