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CALL FOR INSURANCE CONTRACTS TRANSFER OFFERS SUBMITION Spausdinti El. paštas
(2022-09-27)

PUBLIC ADVERTISEMENT ON THE FIRST STAGE OF THE RIGHTS AND OBLIGATIONS UNDER INSURANCE CONTRACTS TRANSFER PROCESS

UAB “Būsto paskolų draudimas”, legal entity code 110076079, address Ulonų g. 5, Vilnius, Lithuania (the “Company”), intends to transfer its valid insurance contracts (the “Portfolio”), consisting of:
(a)    the rights and obligations of the Company under up to 9,000 units of valid long-term home credit insurance contracts the last contract expiring in 2045), as amended and supplemented;
(b)    the rights and obligations of the Company under up to 20 valid insurance contracts for the modernization of multi-apartment buildings (the last contract expires in 2034), as amended and supplemented;
(c)    if necessary, other rights and obligations of the Company under credit insurance contracts.

At the request of a potential buyer, together with the Portfolio, the Company may additionally transfer the rights and obligations of the Company under the cooperation agreements with banks, the Company’s computer programs for the administration of the Portfolio, and/or one or more employees of the Company with the necessary experience and competence related to the administration of the Portfolio (these additional rights and obligations as well as assets, the “Other Objects”). Potential buyers participating in the planned transfer process will have to indicate to the Company what specifically they would like to acquire, i.e. only the Portfolio or the Portfolio together with Other Objects.

Brief information on the Portfolio is available here.

The value of the Portfolio to be sold by the Company is negative. The Company understands that it may have to pay to a potential buyer for the transferred Portfolio.

According to the applicable legal acts, rights and obligations under insurance contracts if force can only be taken over by entities holding an insurance activity license who have received the permission of the Bank of Lithuania for such a takeover. In the absence of a clear prohibition established by legislation to participate in the planned transfer process and to submit proposals to entities that do not have an insurance activity license, but who, if necessary, will be able to confirm that they intend to submit to the Bank of Lithuania the documents necessary to obtain an insurance activity license, the Company invites these entities to submit proposals as well. The Company has made an enquiry to the Bank of Lithuania regarding the persons who may participate in the planned transfer process, therefore, the above position may change upon receipt of clarification from the Bank of Lithuania.

For more information on the non-binding offer stage of the transfer process, please see here.

Should you require any further information, please contact us by email Šis el. pašto adresas yra apsaugotas nuo automatinių reklaminių žinučių, jums reikia veikiancio Javascript, kad galėtumėte pamatyti adresą or phone +370 664 28491.

The information in this notice is subject to change.

This notice is not and must not be understood or interpreted as an irrevocable commitment of the Company to enter into the transfer transaction. The Company reserves the right, at its sole discretion, to change, terminate or suspend the transfer transaction at any time without disclosing the reasons for such decision. The Company will not compensate any losses that the persons participating in the transfer process have suffered or will suffer as a result of such decisions of the Company or as a result of participating in the transfer process.