Notification of commencement of liquidation of Baltic International Bank SE and filing of creditors’ claims or other claims
By decision of the Court of Economic Affairs dated 24 March 2023 in civil case No. C75010823, Baltic International Bank SE, reg. No. 40003127883, was recognized as the institution to be liquidated and the process of its liquidation was initiated. Olavs Cers, a sworn attorney, has been approved as the liquidator of Baltic International Bank SE. 24 March 2023 shall be considered the date of recognition of the credit institution as the institution to be liquidated.
Place of work of the liquidator of Baltic International Bank SE during the liquidation process is Riga, 6 Grēcinieku Street, LV-1050, contact phone +371 67000444 or +371 67365865 (working days from 9:00 a.m. to 5:00 p.m.). E-mail address for communication bib.likvidators@cersjurkans.lv.
Claims of creditors and claims of other persons, as well as other claims against the Baltic International Bank SE being liquidated must be submitted to the liquidator within 3 (three) months from the date of publication of the announcement. Claims of creditors submitted after the specified deadline shall be considered and satisfied in accordance with the procedure established by Paragraph 3, Section 139.3 of the Credit Institution Law.
The creditor’s application must be drawn up in the Latvian language, and if it is drawn up in another language, a notarized translation into Latvian must be attached to it. The creditor’s application must be accompanied by the original documents, or, upon presentation of the originals, notarized copies of documents that comply with the requirements of the Hague Convention Abolishing the Requirement of Legalisation for Foreign Public Documents 1961.
Creditors must calculate the total amount of their claims in foreign currency in the claim and specify it in euro in accordance with the foreign exchange rate set by the European Central Bank as of 12 December 2022.
Claims of the creditors of Baltic International Bank SE in liquidation and supporting documents can be submitted by addressing them to the liquidator of Baltic International Bank SE in liquidation, Olavs Cers:
- in person in Riga, 9-4 Strēlnieku Street, on working days from 9:00 a.m. to 5:00 p.m.;
- by sending by mail as registered mail to the address 9-4 Strēlnieku Street, Riga, LV-1010, Latvia;
- by sending the creditor's claim, drawn up in accordance with the Electronic Documents Law in the form of an electronic document signed with a secure electronic signature and containing a time stamp, to the liquidator’s e-mail address: bib.likvidators@cersjurkans.lv.
If the creditor attaches derivative documents to the creditor’s claim, the liquidator shall have the right to demand the presentation of the original documents, and the creditor shall be obliged to submit them. The liquidator has the right to request other documents or their derivatives if it is necessary for making a decision on the creditor’s claim.
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The creditor – a natural person – needs to submit the following documents:
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Natural person – resident
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Natural person – non-nresident
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- A creditor’s claim drawn up as a legally binding document in accordance with the requirements of external regulatory enactments of the Republic of Latvia and containing:
- presentation of the actual circumstances;
- the creditor’s account numbers in the Baltic International Bank SE being liquidated and the amount of funds to be returned;
- the account number of the credit institution to which the funds should be transferred;
- information on whether the creditor is an interested person within the meaning of Clause 36, Part one, Section 1 of the Credit Institution Law;
- information about whether the creditor is considered to be a politically significant person, a family member of a politically significant person or a person closely related to a politically significant person within the meaning of the Paragraph 18, 181 and 182, Section 1 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing;
- e-mail address of the creditor and confirmation that the creditor agrees to use electronic means of communication to communicate with Baltic International Bank SE in liquidation process and agrees to receive documents in electronic form in the course of liquidation of Baltic International Bank SE;
- confirmation that the creditor and/or its representative is informed and agrees that Baltic International Bank SE processes its personal data in the framework of the liquidation process in order to consider the creditor’s claim and for other justified purposes throughout the liquidation process.
- Documents confirming the legal origin of the funds, indicating and explaining in detail the legal origin of the funds.
- Documents certifying that a bank account has been opened in the name of the creditor indicated in the creditor’s application (the bank account to which the creditor requests the transfer of funds).
- A copy of the identity card and/or passport.
- A notarized power of attorney, if the creditor’s claim is submitted by an authorized person on behalf of the creditor. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
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- A creditor’s claim drawn up as a legally binding document in accordance with the requirements of external regulatory enactments of the Republic of Latvia and containing:
- presentation of the actual circumstances;
- the creditor’s account numbers in the Baltic International Bank SE being liquidated and the amount of funds to be returned;
- the account number of the credit institution to which the funds should be transferred, including the IBAN number, the name of the credit institution and the SWIFT code;
- information on whether the creditor is an interested person within the meaning of Clause 36, Part one, Section 1 of the Credit Institution Law;
- information about whether the creditor is considered to be a politically significant person, a family member of a politically significant person or a person closely related to a politically significant person within the meaning of the Paragraph 18, 181 and 182, Section 1 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing;
- e-mail address of the creditor and confirmation that the creditor agrees to use electronic means of communication to communicate with Baltic International Bank SE in liquidation process and agrees to receive documents in electronic form in the course of liquidation of Baltic International Bank SE;
- confirmation that the creditor and/or its representative is informed and agrees that Baltic International Bank SE processes its personal data in the framework of the liquidation process in order to consider the creditor’s claim and for other justified purposes throughout the liquidation process.
- Documents confirming the legal origin of the funds, indicating and explaining in detail the legal origin of the funds.
- Documents certifying that a bank account has been opened in the name of the creditor indicated in the creditor’s application (the bank account to which the creditor requests the transfer of funds).
- A copy of an identity document that is valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
- A notarized power of attorney, if the creditor’s claim is submitted by an authorized person on behalf of the creditor. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
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A creditor being a legal entity (commercial company, association, foundation and other legal arrangements) needs to submit the following documents:
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Legal entity – resident
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Legal entity – non-resident
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- A creditor’s claim drawn up as a legally binding document in accordance with the requirements of external regulatory enactments of the Republic of Latvia and containing:
- presentation of the actual circumstances;
- the creditor’s account numbers in the Baltic International Bank SE being liquidated and the amount of funds to be returned;
- the account number of the credit institution to which the funds should be transferred;
- information on whether the creditor is an interested person within the meaning of Clause 36, Part one, Section 1 of the Credit Institution Law;
- information about whether the creditor is considered to be a politically significant person, a family member of a politically significant person or a person closely related to a politically significant person within the meaning of the Paragraph 18, 181 and 182, Section 1 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing;
- e-mail address of the creditor and confirmation that the creditor agrees to use electronic means of communication to communicate with Baltic International Bank SE in liquidation process and agrees to receive documents in electronic form in the course of liquidation of Baltic International Bank SE;
- confirmation that the creditor and/or its representative is informed and agrees that Baltic International Bank SE processes its personal data in the framework of the liquidation process in order to consider the creditor’s claim and for other justified purposes throughout the liquidation process.
- Documents confirming the legal origin of the funds, indicating and explaining in detail the legal origin of the funds.
- Documents certifying that a bank account has been opened in the name of the creditor indicated in the creditor’s application (the bank account to which the creditor requests the transfer of funds).
- A copy of the identity card and/or passport and a document certifying the person’s authority to submit a creditor’s claim. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
- A notarized power of attorney, if the creditor’s claim is submitted by an authorized person on behalf of the creditor. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
- If the relevant creditor meets the status of a micro-enterprise, small or medium-sized enterprise within the meaning of the Law on Recovery of Activities and Resolution of Credit Institutions and Investment Firms, then documents confirming this – the Annual Report for 2022 or confirmation by a certified auditor that the creditor meets the requirements of a micro-enterprise, small or medium-sized enterprise in accordance with Annex 1 of the European Commission Regulation No. 651/2014 regarding annual turnover.
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- A creditor’s claim drawn up as a legally binding document in accordance with the requirements of external regulatory enactments of the Republic of Latvia and containing:
- presentation of the actual circumstances;
- the creditor’s account numbers in the Baltic International Bank SE being liquidated and the amount of funds to be returned;
- the account number of the credit institution to which the funds should be transferred, including the IBAN number, the name of the credit institution and the SWIFT code;
- information on whether the creditor is an interested person within the meaning of Clause 36, Part one, Section 1 of the Credit Institution Law;
- information about whether the creditor is considered to be a politically significant person, a family member of a politically significant person or a person closely related to a politically significant person within the meaning of the Paragraph 18, 181 and 182, Section 1 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing;
- e-mail address of the creditor and confirmation that the creditor agrees to use electronic means of communication to communicate with Baltic International Bank SE in liquidation process and agrees to receive documents in electronic form in the course of liquidation of Baltic International Bank SE;
- confirmation that the creditor and/or its representative is informed and agrees that Baltic International Bank SE processes its personal data in the framework of the liquidation process in order to consider the creditor’s claim and for other justified purposes throughout the liquidation process.
- Documents confirming the legal origin of the funds, indicating and explaining in detail the legal origin of the funds.
- Documents certifying that a bank account has been opened in the name of the creditor indicated in the creditor’s application (the bank account to which the creditor requests the transfer of funds).
- A copy of the identity card and/or passport and a document certifying the person’s authority to submit a creditor’s claim. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
- A notarized power of attorney, if the creditor’s claim is submitted by an authorized person on behalf of the creditor. For the representative - non-resident, a copy of an identity document valid for entry into Latvia (a notarized and legalized copy of the identity document with a notarized translation into Latvian).
- If the relevant creditor meets the status of a micro-enterprise, small or medium-sized enterprise within the meaning of the Law on Recovery of Activities and Resolution of Credit Institutions and Investment Firms, then documents confirming this – the Annual Report for 2022 or confirmation by a certified auditor that the creditor meets the requirements of a micro-enterprise, small or medium-sized enterprise in accordance with Annex 1 of the European Commission Regulation No. 651/2014 regarding annual turnover.
- Certificate of Good Standing, issued no later than 30 days prior to its submission to the liquidator of Baltic International Bank SE under the liquidation.
- Certificate of Incumbency, issued no later than 30 days prior to its submission to the liquidator of Baltic International Bank SE under the liquidation.
- Information on the true beneficial owner:
- information on whether the true beneficial owner is an interested person within the meaning of Clause 36, Part one, Section 1 of the Credit Institution Law;
- information about whether the true beneficial owner is considered to be a politically significant person, a family member of a politically significant person or a person closely related to a politically significant person within the meaning of the Paragraph 18, 181 and 182, Section 1 of the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing.
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Additional documents to be submitted by legal arrangements:
- Documents certifying the status, purpose and name of the legal entity.
- Documents certifying the structure and management mechanism, including the true beneficiary or the person in whose interests a legal entity has been created or operates.
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