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Rigas Komercbanka plots a comeback

Apr 01, 1999
Anastasia Styopina

RIGA - A Riga district court declared Rigas Komercbanka insolvent March 23, but the bank's management and shareholders are still hoping to revive Latvia's fifth largest bank.The day after the court announced its verdict, Rigas Komercbanka submitted its revitalization proposals to Gundars Cers, who was appointed bank administrator.In order to restart operations, Komercbanka will have to restructure its liabilities and try to find a strategic investor. Its shareholders will have to raise its equit ...

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