Court rules Latvian bank ABLV may keep Luxembourg branch

10 Mar 2018

LUXEMBOURG, March 10 (Reuters) – Latvia's ABLV Bank, accused
by U.S. authorities of large-scale money laundering, will be
allowed to look for new investors for its Luxembourg branch
after a court there ruled against forced liquidation by EU
authorities, the bank said.
The decision comes after the European Union's Single
Resolution Board and the European Central Bank (ECB) said last
month ABLV was failing and would be wound up.
It followed allegations by U.S. authorities L

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