On August 15, 2019, by a decision of the Latvian Finance and Capital Market Commission, a decision was made to suspend all financial operations of PNB Banka, AS (Latvia).

On September 12, 2019, a court of the Vidzeme suburb of Riga, upon a statement from the Latvian Finance and Capital Market Commission, decided on the insolvency of PNB Banka.

In accordance with the Law of the Republic of Latvia on Deposit Guarantee, state-guaranteed reimbursements can be received by Latvian and international clients of PNB Banka, AS, private and legal entities with deposits in PNB Banka, and each client is guaranteed a reimbursement of up to 100,000 euros from the Deposit Guarantee Fund, payments will be made through the Latvian bank Citadele banka, AS.

Lawyers of Misechko & Partners successfully represented the interests of more than 10 clients in their relations with the banks PNB Banka, AS and Citadele banka, AS regarding obtaining guaranteed state funds.

In addition, the lawyers of Misechko & Partners represented the interests of clients whose deposits exceeded the amounts guaranteed by the state, and filed creditor claims in accordance with the procedure published on September 9, 2019 in the official publication of Latvijas Vēstnesis.

Legal support for these projects was carried out by Volodymyr Misechko and Iryna Nyzka.