Pursuant to the decision of the Riga Regional Court dated 23 December 2011 AS "Latvijas KrAjbanka" was declared insolvent, and SIA "KPMG Baltics" was approved as the insolvency administrator. According to the (1) part of Section 161 of the Credit Institution Law after a credit institution has been declared insolvent, the administrator has all the duties, rights and powers of the administrative institutions and the heads of such institutions, provided for by law and in the articles of association of the credit institution. Email id not found