The court ruled to recover 43 million euros from nine former officials of Krājbanka 0 9

The District Court examined the appeal against the decision of the Riga City Court from 2024, which dismissed the claim of "Krājbanka" and revoked the security for the claim imposed by the ruling of the Riga District Court on March 26, 2014.

The appellate court concluded that the former officials of "Krajbanka" did not demonstrate sufficient responsibility and caution in performing their duties in the management and council, as required by law. Their decisions allowed for the unlawful transfer of bank funds and the conclusion of illegal pledge agreements, exposing the bank to financial risk, the court's ruling stated.

These actions led to significant losses for the bank, the court concluded.

Therefore, the court ruled that the former officials are jointly liable and must collectively compensate "Krajbanka" 43 million euros.

The court also ordered the former officials to pay the state fee and legal costs.

The decision has not yet entered into force and can be appealed in cassation.

It has already been reported that the claim in the district court was filed against the chairman of the board of "Krajbanka" Raimondas Baranauskas, his deputy Alexander Antonov, co-owner of the bank Vladimir Antonov, president of the bank Ivars Priedeitis, board members Martins Zalans, Svetlana Ovchinnikova, and Dzintars Pelcbergs, vice president of the Lithuanian bank "Snoras" Naglis Stancikas, council member of "Snoras" Oleg Sukhorukov, and the company "Melfa Group Ltd.,” as well as the Austrian bank "Meinl," against which the claim was subsequently withdrawn.

As reported, at the end of 2011, a shortfall of about 100 million lats (approximately 142 million euros) was discovered in "Krajbanka," and on December 23 of the same year, the Riga District Court declared "Krajbanka" insolvent.