Hearings started April 24 in a court case related to the collapse of the bank Latvijas Krjbanka (Latvian Savings Bank) in 2011 in murky circumstances, reports LTV’s Anete Brtule.
Riga Regional Court is hearing the appeal case which follows a case brought by the bank’s administrators, KPMG Baltic, against former members of the board of Latvijas Krjbanka.
It is alleged that the board approved the issuing of large loans to several offshore companies believed to be controlled by bank owner Vladimir Antonov as a way of moving assets out of the bank, and with no reasonable expectation that the loans would ever be repaid. Last year the court of first instance agreed with that allegation but now the defendants are exercising th…
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