TGS Baltic advised the administrator of the insolvent joint stock company Latvijas Krājbanka – KPMG Baltics – on drafting of the model business transfer contract used for the sale of the entire loan portfolio of Latvijas Krājbanka (value EUR 263 million) divided into five smaller loan portfolios based on loan categories (corporate, mortgage, profitable, non-profitable and consumer loans) and on sale of the profitable and non-profitable corporate and mortgage loans, student loans and consumer loans to Baltics Credit Solutions Latvia, a subsidiary of Dutch Stichting Galaxy Finance in Latvia. The total number of clients of the sold loan portfolios was 3,183, most of whom were private persons.