KPMG Baltics rejects all proposals for Latvijas Krajbanka recovery

  • 2012-01-31

RIGA - None of the proposals for the recovery of Latvijas Krajbanka received by the bank's insolvency administrator, auditing company KPMG Baltics, is feasible in practice, the company has concluded, reports LETA.

The bank's administrator has received four proposals altogether for recovering Krajbanka.

KPMG Baltics confirms that it has recommended the Financial and Capital Market Commission launching bankruptcy proceedings as the best solution to Krajbanka's insolvency. If the Commission accepts the company's proposal, the company will begin work on documents that will be handed in to courts for launching bankruptcy proceedings against Krajbanka.