In October, ABLV Bank’s liquidators returned EUR 65.911 million in bank’s assets, which is 2.8 times more than in September. Specifically, EUR 16.465 million was returned from previously granted loans, EUR 48.643 million was returned from the return and sale of securities, EUR 600 thousand was returned from loans to lending institutions, and EUR 203 thousand was returned from the sale of movable and other property. As such, starting from June 13, 2018, when the bank’s voluntary liquidation process began, the liquidators of ABLV Bank have managed to return a total of EUR 169.848 million. As of September 30, the amount of deposits in ABLV Bank was EUR 1.6 billion, subordinated liabilities amounted to EUR 140.233 million, and issued securities were equal to EUR 302.879 million. As a whole, the assets of ABLV Bank as of October 31 amounted to EUR 2.368 billion.
As reported, on February 26, in order to protect the interests of customers and creditors, and taking into account the decision of the European Central Bank to begin the process of liquidation of ABLV Bank, the general meeting of shareholders decided to initiate voluntary liquidation of the bank. The bank’s problems began after a report published by the US Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) regarding expected sanctions against ABLV Bank for implementation of money laundering schemes. The lawyers of the bank issued two sets of proceedings against the ECB and two sets of proceedings against the SRB.