VersobankNewsNews archive2018Summary of most information concerning liquidation proceedings of Versobank AS

Summary of most information concerning liquidation proceedings of Versobank AS

14.06.2018

On 26 March 2018, the European Central Bank revoked the licence of Versobank AS at the request of the Estonian Financial Supervision Authority. Under the law, Versobank AS (in liquidation) may no longer provide financial services. Harju County Court appointed Eero Kaup, Viljar Alnek and Ksenia Kravtšenko as liquidators of the bank. The liquidators are required to perform their duties impartially and fulfil the obligations set out in the Credit Institutions Act.

At the initial stage of bank’s liquidation proceedings, the liquidators’ first priority was to work closely with the Guarantee Fund and agent banks to make sure that all depositors would receive compensation for their current accounts and deposits of up to 100,000 euros as quickly and conveniently as possible. As of 23 May, 2,442 depositors had received compensation of 87.5 million euros in aggregate. All claims not settled by the Guarantee Fund (including all deposits exceeding 100,000 euros) will be handled during the bank’s liquidation proceedings.

Liquidators keep the bank’s customers informed about the development of the liquidation proceedings as well as the customers’ rights and obligations by sending relevant information to the customer’s contact address registered in the Bank’s information system (the e-mail address, if available) and by publishing it on Versobank’s website. In the event of a contradiction between an earlier and later communication, the later communication and the most recent information on the website should be regarded as correct.

If you wish to request information from the liquidators, please contact us by e-mail at or call us on (+372) 5679 8500. We will do our best to answer your questions as quickly as possible and apologise in advance for any delays due to the number of inquiries received or the complexity of the questions raised. We hope that the information provided here contains answers to many of your questions. Further information is available on the websites of the Financial Supervision Authority and the Guarantee Fund on www.fi.ee and www.tf.ee respectively.

More detailed information by FAQ can be found on link:

2018-06-14 FAQ.pdf