Armands Rasa, the insolvency administrator of Trasta Komercbanka, has been paid 2.9 million for his services, as creditors who have little chance of recovering their assets have voted to pay Rasa 30% of the recovered money, reported LTV’s De Facto March 4.
“Please explain to me how you can earn so much money in such little time. I’d understand if it was a private company with a huge turnover.. but it’s my account, and it’s [being paid out] with depositors bearing the cost,” says businessman Aleksandrs Gutorevs.
Gutorevs had a deposit of more than 1 million at the bank, which had its licence pulled two years ago. He had deposited the money in the bank as a subordinated debt, after selling his business.
He has not …
Read the full article at: https://eng.lsm.lv/article/economy/banks/insolvency-administrator-rakes-in-close-to-3m-in-six-months.a270203/