CHAPTER 43.15

December  2012

DEALING WITH A BANKRUPT’S AFFAIRS IN LATVIA 

43.15.1 Introduction 

This chapter provides information and advice on issues of a practical nature when dealing with the bankrupt’s affairs (particularly, assets) in Latvia. 

Apart from information relating to the registration of the bankruptcy in Latvia (see Part 1), the chapter only contains information to assist in dealing with an insolvent’s property in Latvia.  The intention is that the chapter will be further developed to deal with other issues relating to that country as the need arises.

The chapter includes a set of FAQs to assist in understanding the subject.

The chapter is divided into the following parts:

Part 1 – Registration of the bankruptcy order in Latvia (paragraphs 43.15.2 to 43.15.6)

Part 2 – Dealing with real property in Latvia (paragraphs 43.15.7 to 43.15.31)

The chapter contains the following annexes:

Annex A – Form M3

Annex B – Example of completed Form M3 in English

Annex C – MP2 for Latvia

Annex D – MP3 for Latvia

Annex E – English translation of Annex C

Annex F – English translation of Annex D

Annex G – Letter requesting registration of bankruptcy at Latvian land registry 

Annex H – English translation of Annex G

Annex I – Document in Latvian explaining disclaimers

Annex J – English translation of Annex I

The following abbreviation is used in this chapter:

The Regulation – The EC Regulation on Insolvency Proceedings 2000

[On to Part 1 – Registration of the bankruptcy order in Latvia]