Krajbanka to face bankruptcy proceedings

  • 2012-02-22
  • From wire reports
RIGA - Latvijas Krajbanka, the Latvian bank owned by Lithuania’s Snoras that recently crashed in a major banking scandal, will face bankruptcy charges from KPMG Baltics, LETA reported.The Financial and Capital Markets Commission (FCMC) decided to accept the proposal from KPMG Baltics, an auditing company in charge of the bank, to launch bankruptcy proceedings against Krajbanka, FCMC Chairman Kristaps Zakulis announced in a press conference on Feb 21.The court will decide when to launch the bank’s bankruptcy proceedings.None of the proposals for the recovery of Kraj...
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