Announcement on the sale through competitive bidding of the real estate 64 Saules Street in Madona owned by SIA Baltijas Naftas Grupa (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 Baltijas Naftas Grupa, registration No 50 103484321 (hereinafter – “SIA Baltijas Naftas Grupa”), in cooperation with SIA Latio, registration No 41703000843 (hereinafter – “Latio”), hereby announce the sale of the real estate object 64 Saules Street in Madona, cadastral No 70010010136, owned by SIA “Baltijas Naftas Grupa” (hereinafter – “the Real Estate”) in a voluntary competitive bidding. The Real Estate consists of a land plot with the total area of 72 771 m2 (cadastral designation 7001 001 0136) and buildings, engineering structures situated thereupon as recorded in the Vidzeme District Court Madona Division of the Land Register folio No 151.

The mortgage lender – the Bank.

The appraised value and starting price of the Real Estate – EUR 260 000.

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

Application deadline – 14.04.2023, 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 29415520.


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

- by 14 April 2023, 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 April 2023, 11:59 PM, transfer the participation fee of EUR 121, incl. VAT – EUR 21 and the deposit of EUR 26 000, i.e. 10% of the starting price, to the account specified by the Bank. The account number for transferring the above payments will be forwarded to the applicant upon receipt of the application to the email address indicated therein.


The application for participation in the competitive bidding and the documents attached thereto shall be submitted at the Bank’s office in Riga, 21 Ernesta Birznieka-Upīša Street (Latvian: Ernesta Birznieka-Upīša iela 21), 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.