Announcement on the sale through competitive bidding of 1222/10000 ideal parts of the land and 1/2 ideal parts of the buildings located at 26 Zemgales Street, Jurmala, 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 4010329551 (hereinafter – “SIA Magnum Estate”), in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the sale of the real estate owned by SIA Magnum Estate, which includes 1222/10000 ideal part of the land and 1/2 ideal parts of the buildings located at 26 Zemgales Street, Jurmala, cadastral No 3000163809 (hereinafter – “Real Estate”). The Real Estate consists of a land plot of 2453 m2 and premises located thereon: a residential building and three subsidiary buildings, constructions. The use of the Real Estate is governed by a certain procedure.

The appraised value and starting price of the Real Estate – EUR 55 000.

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

Application deadline – 14.06.2021, 05:00 PM.


To arrange for examination of the Real Estate and find out more information a`bout 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 (hereinafter – “the Regulations”) available free of charge on the Bank’s website or Latio’s website For more information on the Regulations please call +371 29165900.


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

- by 14 June 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 14 June 2021, 11:59 PM, transfer to SIA Magnum Estate account No LV70MULT1010A58400010, in AS “Industra Bank”, the participation fee of EUR 121, incl. VAT – EUR 21, and the deposit of EUR 5 500, i.e. 10% of the starting price.


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.