In August 2017, Joint Stock Company Reverta made a EUR 3.7 M interest payment to the State Treasury and successfully completed the handover of the second portion of its loan portfolio to the investor Gelvora.
„We are satisfied that our cooperation with the buyer of Reverta’s loan portfolio is very constructive. This allows for a smooth handover of credit files within the time limits laid down in the agreement. It should be noted that these time limits are quite strained,” says Ruta Amtmane, Liquidator of Reverta.  

Ruta Amtmane points out: „The agreement concluded with the loan portfolio buyer Gelvora prescribes for the handover of the portfolio in three portions. At the moment, we have commenced work on the handover of the third – the largest – portion of the loan portfolio”.

Under the agreement, Reverta has to hand over to the investor 4 500 credit files, and both parties of the deal are involved in the process. The agreement with Gelvora on sales of the loan portfolio was signed on 22 June 2017.

Simultaneously, Reverta continues interest payments to the State Treasury. During this year, Reverta has paid the Treasury EUR 11 M, and, since 1 August 2010, the State has received more than EUR 700 M in the form of various payments.

Additional information:
Reverta started its operation as a distressed assets manager on 1 August 2010 after the split of Parex Bank. Only low quality assets with long term repayment problems were left to the company. The objective of Reverta was to recover within a reasonable period and amount the State aid granted to Parex Bank. In view of the fact that this year Reverta’s objective will be met, the liquidation process of the company has been commenced in line with the EC approved plan.    

To learn more about Reverta, please visit our web page: www.reverta.lv.

For more information contact:
Marita Ozoliņa
Head of Communication and Marketing Department
Tel.: 67779142 or 29287169
E-mail: marita.ozolina@reverta.lv