MANDATORY REGISTRATION OF THE BANKRUPTCY ORDER IN LATVIA
Latvian law [note 1] [note 2] requires the official receiver to register the bankruptcy order in Latvia if he/she intends to deal with any assets which vest in the bankruptcy estate within the country in the capacity as trustee. If the official receiver is simply going to disclaim the property (see paragraph 43.15.11), he/she need not carry out the process of registration.
If the bankrupt has a trading establishment in Latvia it is mandatory to register the bankruptcy order whether or not the official receiver intends to deal with assets within the country.
Latvijas Republikas Uznemumu Registrs
Perses Street 2
There is no fee payable for this service.
Annex B is a Form M3 that has been completed in English as an example – but it should be noted particularly that the debtor’s passport details need to be included in the form. This is an example only, and the Latvian version of the form should be used for the submission.
The Form M3 should be accompanied by a notarised (certified as being correct) translation of both the bankruptcy order and the notice of no meeting [note 5] [note 6]. The Service’s translation agents (see paragraph 32.3.39) can provide a notarised translation.
As well as resulting in the bankrupt’s details to being entered into the Latvian insolvency register (http://www.ur.gov.lv/eng/insolvency.html), the submission of Form M3 will also result in the publication of the details of the bankruptcy in the state gazette of Latvia (Latvijas Vēstnesis).