ABLV has submitted thousands of documents to state institutions, liquidator says

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During the liquidation process of ABLV Bank, there is active cooperation with a number of involved institutions, and thousands of documents have been handed to these institutions, said the bank's liquidator Andris Kovaļčuks.

He said that the bank reacts and provides answers to all submissions, handing in all necessary documents and other information, including about decisions made at the bank.

"It is our duty. We are interested in thorough inspections about creditors, the bank's operations, investigating all publicly voiced suspicions about possible violations. We are open for communication. The number of documents provided to different institutions reaches several thousands," he said.

Kovaļčuks also said that the EY auditing firm continues vetting of creditors.

Commenting on the statement of the Financial Investigation Service that about €100 million possibly suspicions money has been frozen in the bank, Kovaļčuks said that there is pragmatic cooperation with the service, and the bank has handed over not only all historical data about the creditors, but is also providing additional information about the probes.

"All banks are reporting about suspicious transactions. Can we always view events and statements of 2013 with the eyes of 2019. We do not engage in this rhetoric, we are doing everything the law requires from us," the liquidator said.

As reported, the Finance and Capital Market Commission, acting on the instructions from the European Central Bank, ordered ABLV Bank to stop all payments as of February 19 following a report by the Financial Crimes Enforcement Network of the U.S. Department of the Treasury about ABLV Bank's involvement in international money laundering schemes and corruption. On February 24, the Finance and Capital Market Commission found an occurrence of unavailability of deposits at ABLV Bank.

Shareholders of ABLV Bank decided in February to start the liquidation process in order to protect interests of its clients and creditors. ABLV Bank believes that in this way it will be possible to ensure active protection of its customers, the bank said in a statement.

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