Partner Valters Kronbergs successfully completes the liquidation of VEF banka
Managing Partner Valters Kronbergs is proud to announce that he has completed the successful liquidation of VEF banka on 28 August 2019. He was selected by Latvian Financial and Capital markets Commission as the new liquidator of VEF banka on 22 October 2015, following a competitive pre-qualification process. VEF banka has troubled history over the previous 10 years, following its designation by the US Department of the Treasury as a “primary money laundering concern”. In may 2010, the Latvian bank regulator revoked VEF banka license and in October 2010 the Riga District Court issued an order to begin liquidation. Valters succeeded the previous liquidator and has now concluded his mandate after settlement of a complex litigation case concerning title to shares between major shareholders.
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