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Given significant financial losses over the extended period since March 2018 and in order to protect the interests of the depositors and shareholders, ABLV Bank Luxembourg, S.A. has decided to agree to the start of the judicial liquidation process.
As a matter of fact, for the same reasons as mentioned above, inter alia, Luxembourg’s financial supervisory authority, Commission de Surveillance du Secteur Financier (CSSF), has filed an application with the Luxembourg Commercial Court in order to put ABLV Bank Luxembourg, S.A. into judicial liquidation. The Luxembourg Commercial Court shall make a decision about lifting the previously imposed protection mechanism and commencement of judicial liquidation and setting out its key terms on 2 July 2019, Arvids Kostomarovs,...
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