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VEF Bank loses license

Jul 28, 2010
From wire reports

RIGA - The Senate of Latvia’s Supreme Court on July 22 rejected a request by VEF Bank to suspend the Finance and Capital Market Commission’s (FCMC) decision to revoke the bank’s license, reports news agency LETA. This means that the Senate has overturned the Administrative Regional Court’s decision to suspend the FCMC’s May 26 decision to annul the banking license for VEF, the Supreme Court’s spokeswoman Rasma Zvejniece said. The Senate’s decision can ...

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