Announcement on the sale through competitive bidding of the real estate located in Riga, 1 Ostas Street, owned by SIA Ostas 1 (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 Ostas 1, registration No 40003934350 (hereinafter – “SIA Ostas 1”), in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the sale in a voluntary competitive bidding of the real estate objects located in Riga, 1 Ostas Street, cadastral numbers: No 01000680264 and No 01000680004, owned by SIA “Ostas 1” (hereinafter both objects referred to as – “the Real Estate”). The Real Estate consists of the land plot with the total area of 15451 m2, cadastral No 0100 068 0264, and the buildings situated thereupon, as follows from the records made in the Land Register of Riga City folio No 11037. The Real Estate is offered for sale as a single object of the competitive bidding.

The mortgage lender – the Bank.

The appraised value and starting price of the Real Estate – EUR 319 700.

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

Application deadline – 30.09.2021, 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 29415520.


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

- by 30 September 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 30 September 2021, 11:59 PM, transfer to the Bank`s account No LV69BLIB1001005254003 with AS "Baltic International Bank”, the participation fee of EUR 121, incl. VAT – EUR 21, and the deposit of EUR 31 970, 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.