Proceedings / Effects of Registration

Can judicial decisions opening insolvency proceedings be registered in the Land registry in accordance with your legislation?

If affirmative, what effects do these registrations produce?

In Latvia are possible to register insolvency procedure. If an insolvency proceeding has been opened, court appointed the insolvency practitioner by court decision from a list that is kept by the Insolvency Administration.

Information about insolvency procedures, insolvency practitioners is public and available in Insolvency register. Insolvency practitioner can submit an insolvency notice to Land Register.

These notices are the only type of registration on insolvency matters that are registered in the Land Register. Insolvency practitioner notice done electronically and it includes submitting, modifying and removing such notice.

Land Register also keeps an information on persons that it has received from sworn bailiffs, insolvency practitioner or taxation administration so that means if a person acquires a property a specific notice is put automatically indicating restrictions for further registration.

There are no other registers that inform Land Registries about existing insolvency procedures except for the insolvency practitioner.

Such notice then works as an obstacle to any voluntary or compulsory further corroboration, except if allowed with the Insolvency Law.