ABLV creditors submit claims for €2 billion worth of obligations

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By September 18, about 3,300 creditors of the ABLV Bank, which is in the process of folding, have submitted claims for €2 billion, or about 98% of the bank's total obligations.

That's what ABLV representative Jānis Bunte told the press.

"The liquidation committee views the achieved result positively. Despite the relatively short period in which creditors could submit claims, we've received almost the maximum volume of claims...the next step is no less challenging, as we'll start a thorough and responsible evaluation of all the claims," said Arvīds Kostomārovs, who is in charge of liquidating the bank.

Meanwhile those who have not submitted a claim by September 18 will still be able to do so, but their requests will be processed later, said Bunte. 

Provisionally, the liquidator says that the first payments for those who had deposits over the state-guaranteed sum could start in January 2019. 

ABLV Bank say that claims will be processed under the supervision of Latvia's financial regulator, the Financial and Capital Market Commission (FKTK).

FKTK announced June 12 it had decided to allow ABLV bank to undergo a process of self-liquidation.

The decision came three months after ABLV made an application to do so in the wake of money-laundering allegations by the U.S. financial authorities.

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