Announcement on the sale through competitive bidding of 916/1100 undivided shares in the real estate located in Jurmala, 18 Olgas Street, owned by SIA Magnum Estate (AS 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 sale of 916/1100 undivided shares in the real estate located in Jurmala, 18 Olgas Street, owned by SIA Magnum Estate, cadastral No 13000163810 (hereinafter – “the Real Estate”) in a voluntary competitive bidding. The entire Real Estate consists of the land plot of 2143 m2. The use of the Real Estate is governed by a certain procedure.

The appraised value and starting price of the Real Estate – EUR 47 700.

The competitive bidding price is exempt from the value added tax.

Application deadline – 19.04.2021, 05:00 PM.


To arrange for examination of the Real Estate and find out more information about it, please call Latio at +371 67032300 on business days from 9:00 AM to 5:00 PM.

Information on applying for the competitive bidding, the competitive bidding procedure, conditions for closing transactions and other relevant information is provided in the competitive bidding regulations available free of charge on the Bank’s website or Latio’s website For more information on competitive bidding regulations please call +371 29165900.


All persons willing to participate in the competitive bidding should complete the following:

- by 19 April 2021, 05:00 PM, attend an on-site identification at the Bank’s office, submit the application form filled out in compliance with the Regulations, as well as all other documents indicated therein;

- by 19 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”;

- by 19 April 2021, 11:59 PM, transfer the deposit of EUR 4 770, i.e. 10% of the starting price, to SIA Magnum Estate account No LV70MULT1010A58400010, AS “Industra Bank”.


The application for participation in the competitive bidding and the documents attached thereto shall be submitted at the 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 sent via e-mail to in the form of an electronic document duly signed with a secure electronic signature and containing a time stamp.