ABLV Bank, AS in liquidation requests bonds to be excluded from the regulated market
Riga, Latvia, 2020-06-19 13:30 CEST --
ABLV Bank, AS in liquidation has submitted a request to Nasdaq Riga, AS, asking to exclude all the issued bonds from the regulated market.
The request is based on the voluntary liquidation process started in 2018, since, in accordance with Section 127 of Credit Institutions Law, there are no grounds to continue admitting the bonds to the Bond List due to absence of interest of investors or need to protect normal market operation.
As reported earlier, on 26 February 2018 at the meeting of shareholders of ABLV Bank, AS there was a decision made about voluntary liquidation of ABLV Bank, AS. On 12 June 2018 the Council of the Financial and Capital Market Comission made a decision to allow ABLV Bank, AS to start voluntary liquidation process.
Along with excluding the bonds from the Bond List of the exchange, the accounting of the bonds at Nasdaq CSD, SE will be terminated, and the bonds transferred into monetary claims in the accounting of ABLV Bank, AS in liquidation shall be accounted only as claims of creditors of ABLV Bank, AS in liquidation about disbursement of monetary funds.
Excluding the bonds from the Bond List and transfer them into monetary claims shall not affect the lodged and recognised claims of creditors-bondholders, as well as amounts of these claims, procedure of satisfying them and the terms of disbursement of the claim amounts. In order to claim their rights to the monetary claims arising from the transfer of bonds, the bondholders, who have not lodged their creditors’ claims yet, should lodge their claims of creditors of ABLV Bank, AS in liquidation. Information about the procedure of lodging the claims is available here: www.ablv.com.
As always, all the latest information about the operation of ABLV Bank, AS will be available in monthly liquidation reports which are being published in accordance with the provisions of the Law on Credit Institutions.
Head of Communication Department
ABLV Bank, AS in Liquidation
Tel.: +371 6700 2432