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Misechko & Partners helped the client to unblock and receive creditor's payment in the liquidation procedure of ABLV Banka
The client of Misechko & Partners, a physical person, was a second-step creditor of ABLV Banka (Latvia) for the total amount of EUR 180 000.00.
As part of the liquidation of the Bank, the client's funds were first frozen by the Latvian Financial Intelligence Service, and then on July 28, 2020, the Vidzeme Police Department for Economic Crimes initiated a criminal case on the fact of money laundering under Art. 195 of the Criminal Code of the Republic of Latvia.
On April 26, 2021, within the framework of the initiated criminal proceedings, the Vidzeme Police Department seized the case file on the client's funds, which, in the opinion of the police, were obtained by criminal means, and sent case to the Latvian Economic Court for further confiscation.
On July 30, 2021, the Latvian Economic Court refused the Prosecutor's Office of the Republic of Latvia to confiscate the client's funds due to the lack of evidence of the criminal origin of such funds and sent the case for further additional investigation.
On August 01, 2022, by the Resolution of the Criminal Police of the Vidzeme Police Department the seizure of our client's funds was canceled and such a Resolution was sent to ABLV Banka for payment in favor of the client.
Subsequently, the lawyers of Misechko & Partners opened a bank account in the name of the client, to which such payment was made by ABLV Banka.
From the moment of opening of the criminal case by the Vidzeme Police Department until the moment of payment of funds in favor of the Bank's creditor, more than 2 years have passed, which is quite a significant period in a far-fetched criminal case, as in most similar criminal cases initiated in the framework of the liquidation of ABLV Banka.
Legal support of the project was provided by Volodymyr Misechko in cooperation with the sworn attorney of the Republic of Latvia Daiga Silina.