Krajbanka’s Administrator Calls for Bankruptcy, Leta Reports

KPMG Baltics, the administrator for Latvijas Krajbanka AS (LKB1R), called for the bankruptcy of the lender after rejecting proposals to reopen it, Leta reported.

The administrator had evaluated and rejected four proposals that would have revived the lender, which was suspended in November over missing money, the Riga-based newswire reported.

-- Editor: Douglas Lytle

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor for this story: Balazs Penz at bpenz@bloomberg.net

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