On Friday, 2 November, the District Court of Riga continued civil matters to collect € 15 million from the members of the Latvijas Krājbanka Board of Directors. One accused of "Development / For!" Chosen by Saeima Martins Bondars Representative.
On a regular hearing on Friday, defendants could raise questions to petitioners. The most important debates about two loans are the affiliated companies of the bank's owner, Vladimir Antonov, which causes the bank significant losses.
Representatives of the KPMG bank insolvency administrator who are responsible for the creditor to get more money from assets remaining in the bank have been summoned by members of the former members of "Latvijas Krājbanka" to a sum of EUR 15 million. At first instance, the system administrator won but the former "Krājbanka" panel appealed against the decision.
The dispute relies on two loans which, in the executive's view, the board has acted badly. The first EUR 2.4 million loan was granted to a yacht company registered in the Antilles of the Netherlands and another loan of EUR 20 million for real estate development in Slovakia.
Both transactions did not cause any losses to the bank. According to the applicants, these were not just unsuccessful business decisions because the bank was not convinced at all that the company's money could be repaid. In addition, borrowers were linked to the bank's owner, Vladimir Antonov.
"They are accounting without any offshore companies. Both companies are closest to Antonov," said Romualds Vonsovich, the jury advocate, spokesman for KPMG Baltics.
"In one company, for yachts, Antonov was the real beneficiary, such information being in" Latvijas Krājbanka. "In the second case, Maksim Anchipolovsky was an Antonov lawyer, a business owner in Seychelles. [..] Antonov needed funds and was issued on request, "Vonsovich explained.
On Friday, only Andrejs Surmačs arrived from the former members of the Riga Regional Court's second instance court. He believes that the administrator himself could not recover the bank's property. That is why a statement was made.
"The value of the yacht is indicated by the decision of the British court – three million euros. Less than a million dollars have been sold, and now we want to get a distinction between us and the yachts. Surmaitch said.
If the court does not change its first instance decision, each of the seven former members of the bank will have to repay some two million euros.
One of them is the 13th Saeima Martins Bondar, who calls the matter absurd and political.
In addition, his lawyer, Mārtiņš Kvēps, points out that the loss of the charter is the responsibility of the administrator and that Bondara's behavior is correct in relation to the loan to the real estate project.
"In the case, there is a decision of the bank's board of directors, which states that the loan only 70% of the collateral value. This is the only thing Mr. Bondar did on this issue. [..] What is the administrator saying to us? We ask what's wrong with this decision. The manager says that Mr. Bondar is responsible for all the things that were later made by the rest of the bank, "said the Kvps.
Bondar real estate and bank accounts are still lagging behind. The lawyer told the legislator that he would not seek exemption from the collateral in order not to delay the court proceedings. The spokesperson of the applicants, Vonsovich, considers that the court may end the case in the spring.