NOTIFICATION of Liquidation of Baltic International Bank SE under Liquidation and Termination of the Safe Deposit Box Rental Contract
Riga, 11 April 2023
By decision of the Court of Economic Affairs dated 24 March 2023 in Civil Case No. C75010823, Baltic International Bank SE, reg. No. 40003127883, hereinafter referred to as Bank, was recognised as an institution to be liquidated and the process of its liquidation was initiated. Olavs Cers, a sworn attorney, was appointed as the liquidator of Bank, hereinafter referred to as the Liquidator.
Taking into account the fact that after the initiation of the liquidation, Bank will no longer provide the usual services and will not provide customer service, the Client’s Safe Deposit Box Rental Contract, hereinafter referred to as the Contract, will cease to have effect on 24 March 2023, and the contents of the safe deposit box assigned to the client shall be considered the property of third parties.
In accordance with the provisions of Paragraph 2, Part one, Section 133 of the Law on Credit Institutions, creditors or other persons who have the right of claim against Bank are entitled to submit their claims and demands to the liquidator within three months of the announcement in the official gazette Latvijas Vēstnesis.
In view of the aforementioned, the Liquidator asks the client no later than within three months from the publication of the announcement in the official gazette Latvijas Vēstnesis, i.e. from 29 March 2023 to 29 June 2023 inclusive, to submit an application to the Liquidator on taking over the contents of the client’s safe deposit box. The request to the Liquidator shall be sent in Latvian to the electronic mail address email@example.com, or by registered mail to 9 – 4 Strēlnieku Street, Riga, LV-1010, Latvia.
The client will be notified of the time of the opening, and the procedure for the opening, of the safe deposit box rented by the client, as well as the fees to be paid by the client before the opening of the safe deposit box, in the reply to the request submitted by the client.
Taking over the contents of the safe deposit box will be possible after the AML procedure has been completed for the client.
The client is obliged to pay all fees, expenses and damages resulting from the Contract if Bank has incurred them before the time the safe deposit box is opened, by the day of the opening of the safe deposit box.
If the results of the AML procedure cause the Liquidator to have reasonable doubts about violation of Paragraph 3.18, Part II of the Contract by the client and/or other security risks, the Liquidator will immediately inform the competent state institutions, including the Financial Intelligence Unit of Latvia, thereof and hand over the contents of the safe deposit box to them.
If the client has not submitted a written application on taking over the contents of the safe deposit box or has not made all the due payments and/or has not arrived at Bank to vacate the safe deposit box, after 29 June 2023 the forced opening of the safe deposit box in accordance with Paragraphs 7.2.5, 7.2.6, 7.3 and 8.4, Part II of the Contract will take place without the presence of the client, in the presence of the Liquidator and persons invited by him, in which case the Liquidator will make the decision on further action with the contents of the safe deposit box.
Olavs Cers, Sworn Attorney, Liquidator
of Baltic International Bank SE under Liquidation