Due to Antonov's deals, the bank sustained losses of EUR 60,499,567 and USD 30,762,458 (EUR 27,096,311), said Oskars Firmanis, public relations consultant for Latvijas Krajbanka insolvency administrator KPMG Baltics.
In the coming weeks, the High Court will decide the amount of interest that Antonov owes the bank in addition to compensating the bank for the losses.
On behalf of Latvijas Krajbanka, KPMG Baltics in June and July 2014 submitted two civil claims against Antonov, demanding that he compensate losses he had caused to the bank. The two claims, later combined into one, were submitted to a court in England, as Antonov was in Great Britain at that moment.
Although Antonov left Britain in 2015, the insolvency administrator will use the court ruling in the further bank asset recovery process in accordance with the Law on Credit Institutions.
As reported, Riga Regional Court ruled Latvijas Krajbanka insolvent in December 2011, appointing KPMG Baltics as the bank's insolvency administrator. Bankruptcy procedures at the bank started in May 2012.
Assets worth approximately EUR 250 million have been recovered to date.
About EUR 238 million has been transferred to the Deposit Guarantee Fund to compensate for a loan provided by the Treasury so guaranteed compensation could be paid to Latvijas Krajbanka depositors.
