Notice of the Meeting of Creditors
Linda Sniega-Svilāne, Administrator in Insolvency Proceedings of the Insolvent Baltic International Bank SE, reg. No. 40003127883, gives notice that the Meeting of Creditors will be held in the Panorama Hall of Wellton Riverside SPA Hotel at 33, 11. Novembra krastmala, Riga on 31 May 2024.
Agenda the Meeting of Creditors:
- Approval of the insolvency proceedings plan.
- Election of the creditors’ committee.
- Determining the procedure for the alienation of assets.
- Determining the amount of the expenses of the insolvency proceedings and the procedure for covering them.
- Determining the amount of the Administrator’s remuneration and the procedure for covering it.
Registration for participation in the Meeting of Creditors will take place at the venue of the Meeting of Creditors from 14:00 hrs to 14:55 hrs on 31 May 2024. The Meeting of Creditors starts at 15:00 hrs. The Meeting of Creditors will be held in Latvian.
A creditor has the right to participate in the Meeting of Creditors in person or through an authorized representative. A creditor may authorise no more than one person to represent him or her at the Meeting of Creditors.
Creditors who represent no less than one percent of the total amount of all creditors’ claims are entitled to participate in the Meeting of Creditors (as at the day of making this Notice, one percent of the total amount of all creditors’ claims is approximately EUR 799,760.55, which will be further specified on the day of the Meeting of Creditors). According to Part 2, Section 1351 of the Law on Credit Institutions, the administrator invites creditors whose claims do not exceed one percent of the total amount of all creditors’ claims to authorise a joint representative.
When registering to participate in the Meeting of Creditors, an identity document must be presented.
Creditors who will participate in the Meeting of Creditors through an authorized representative must submit to the Administrator documents confirming their right of representation (unless such documents were submitted together with the creditor’s claim) in a timely manner, but no later than five business days before the Meeting of Creditors in any of the following ways:
- by sending them as an electronic document, signed with a secure electronic signature and containing a time stamp, in accordance with the Electronic Documents Law to the email address: maksatnespeja@bib.eu;
- by sending them by registered mail to the address: 6 Grēcinieku Street, Riga, LV-1050;
- in person at 6 Grēcinieku Street, Riga, on Tuesdays and Thursdays from 10:00 hrs to 12:00 hrs and from 13:00 hrs to 16:00 hrs.
The creditor’s representation must be formalized by a notarized and certified power of attorney. All submitted documents must be prepared in Latvian, or if they are prepared in another language, they must be accompanied by a notarized translation into Latvian. Original documents or notarized copies of documents must be submitted in compliance with the requirements of the 1961 Hague Convention Abolishing the Requirement of Legalization for Foreign Public Document.
The administrator calls for checking the documents certifying representation and their validity in due time and making sure that they contain the right to represent the relevant creditor in the insolvency proceedings and to vote on the matters included in the agenda of the Meeting of Creditors.
