Latvijas Krājbanka                                           08.06.2005.



Dismissed the claim against JSC "Latvijas Krājbanka"



On Tuesday, Riga Regional Court dismissed the claim brought by the insolvent 

SIA Skonto AL against JSC Latvijas Krājbanka and SIA Calculus concerning the 

sale of the hotel Rolands and the movable property located in it.

In February 2004, Krājbanka, on the basis of an award, made by the Arbitration 

Court of the Association of Latvian Commercial Banks, and Authorization Agreements 

and Commercial Pledge Agreements concluded with SIA Skonto AL, enforced the 

security for the loan issued to the client by selling pledged real property in 

Riga, at Kaļķu iela 3a, and the movable property of SIA Skonto AL as an aggregation 

of things to SIA Calculus for the total amount of LVL 2100000.00.

The former owner of hotel Rolands, MSIA Skonto AL, brought its claim to the court, 

indicating that the pledged property was sold without observing the procedure 

provided for by the law.

The judgment may be appealed to the Supreme Court under the appeals procedure 

within 20 days.