Announcement on the 1st auction of the real estate located in Riga, 28 – 2 Ogļu Street, owned by SIA Magnum Estate – a PNB Banka group company


The insolvency process administrator of the insolvent AS PNB Banka, registration No 40003072918 (hereinafter – “the Bank”), Vigo Krastiņš, and SIA Magnum Estate, registration No 40103295514 (hereinafter – “SIA Magnum Estate”), in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the 1st auction of the real estate owned by SIA Magnum Estate, located in Riga, 28 – 2 Ogļu Street, cadastral No 01009230763 (hereinafter – “the Real Estate”). The auction shall take place via the electronic auctions web-site The Real Estate includes an apartment of 71.4 m2, 714/7558 undivided shares of the joint property of the constructions (cadastral designations 01000620112001 and 01000620112002), and 714/7558 undivided shares of the joint property of the land (cadastral designation 01000620112). The owner of the Real Estate acquires the right to use one parking lot.

The Bank is the Real Estate’s mortgage lender.

The appraised value and starting price of the Real Estate – EUR 124 240. Bidding step – EUR 1 500. The auction price is exempt from the value added tax.

The auction opens on: 18.05.2021, at 1:00 PM. The auction closes on: 26.05.2021, at 01:00 PM. Application deadline is 26.04.2021, 05:00 PM.


Information on applying for the auction, the auction procedure, conditions for transaction closing and other matters are stated in the auction regulations (hereinafter – “the Regulations”), available free of charge on the PNB Bank’s website or Latio website For more information, please call: +371 67032300.


All persons willing to participate in the auction should complete the following:

- by 26 April 2021, 05:00 PM, familiarise oneself with the Regulations, attend an on-site identification at Latio’s and/or the Bank’s office, confirm one’s consent with the terms and conditions of the Regulations in writing, submit to Latio and/or the Bank a completed Application form filled in compliance with the Regulations, as well as all other documents indicated therein;

- by 26 April 2021, 11:59 PM, transfer the participation fee of EUR 121, incl. VAT – EUR 21, to the Bank’s account No LV26BLIB1001005254001, in AS “Baltic International Bank”;

- transfer the security deposit of 10% of the Real Estate’s starting price, i.e. EUR 12 424, to SIA Magnum Estate account No LV70MULT1010A58400010, in AS “Industra Bank”, by the deadline specified in the Regulations and following the procedure stated therein.


The Application for participation in the auction and the documents attached thereto shall be submitted at the PNB Bank’s office in Riga, 15-2 Elizabetes Street (Latvian: Elizabetes iela 15-2), on business days from 09:00 AM to 05:00 PM, or at Latio’s office in Riga, 21A Elizabetes Street (Latvian: Elizabetes iela 21A), on business days from 09:00 AM to 05:00 PM, or sent via e-mail to in the form of an electronic document duly signed with a secure electronic signature and containing a time stamp.


Any persons having rights to the Real Estate, which prohibit selling thereof at the auction, shall apply to the court before the closing date.