Riga, Latvia, 2019-02-05 10:09 CET (GLOBE NEWSWIRE) -- On Tuesday, 5 February 2019, on the meeting of shareholders of ABLV Bank, AS in liquidation there was a decision made about the changes in the Liquidation Committee. The shareholders appointed two new liquidators – Lauma Bērziņa and Ringolds Balodis, while Elvijs Vēbers shall resign from the position of the liquidator.

Lauma Bērziņa is an individually practicing sworn attorney with more than 20 years of professional experience in legal advisory and practicing commercial law, corporate management and civil rights, employment and administrative rights. She has been representing clients with state and municipality institutions, has been developing corporate management models, as well as consulting in attracting of private capital, asset acquisition or alienation, restructuring of deals and businesses. Previously she has been a Head of Legal Department of Deloitte Latvia, as well as worked at the sworn attorney office Sorainen.

Ringolds Balodis is a Doctor of Law, Professor of the Faculty of Law of the University of Latvia. He is specialising in state law and comparative constitutional law. He is author of two monographies and more than 100 research articles in Latvia and abroad. He is a Chairman of the Board of the Research Institute of Law, as well as corresponding member of Latvian Academy of Science. He has been Chief State Notary – worked as the Head of the Register of Enterprises, as well as Deputy of the 12th Latvian Parliament, a long-term Secretary of the National Security Committee and an expert for the Organisation for Security and Co-operation in Europe (OSCE).

Eva Berlaus, a sworn attorney and a leading partner of Sorainen Latvian office, Arvīds Kostomārovs, an expert in corporate finance, and Andris Kovaļčuks, an expert in real estate and finance, shall continue their work as liquidators.

Given the agreement achieved upon employment, sworn attorney Elvijs Vēbers shall resign from the position of a liquidator. The shareholders and the Liquidation Committee are thankful to Elvijs Vēbers for the work he has done over the last 11 months. They highly appreciate his input on the first stage of the voluntary liquidation, and development, coordination and implementation of the associated processes, as well as solving other organisational issues, thanks to which the company has successfully made it through the first stage of the liquidation process.

The information about the new candidates for the positions of liquidators has been presented also to the Financial and Capital Market Commission, which among other criteria has assessed also the professional experience, education and reputation of Lauma Bērziņa and Ringolds Balodis. The candidates have certified that the restrictions for taking the position of a liquidator, provided in Section 132 of the Credit Institutions Law do not apply to them.

The new Liquidation Committee shall continue working on implementation of the controlled liquidation plan approved by the FCMC, not only continuing professional, transparent and lawful management of the company’s assets, but also ensuring commencement of the verification of the creditors, applying a methodology developed by an independent international consultant and submitted to the institutions in charge.

         Artūrs Eglītis          ABLV Group Communications Leader          Tel.: +371 6700 2454          e-mail: arturs.eglitis@ablv.com