We advised insolvent AS “PNB Banka” on conversion and sale of shares in MasterCard and Visa

We are pleased to announce that Skrastiņš & Dzenis acted as legal adviser to insolvent AS “PNB Banka” on conversion and sale of shares in MasterCard and Visa.

The insolvent AS “PNB Banka” owned preferred shares in both MasterCard and Visa. The main objective of the project was to convert these shares into common shares and sell them.

Our team provided general advice on dealing with the United States regulations and internal procedures of both MasterCard and Visa payment systems, verified agreements as well as advised the client on regulatory compliance. The team was led by senior partner Aivis Dzenis.

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