VILNIUS, April 16 - RAPSI. Former owner of Kaunas-based Ukio Bankаs Vladimir Romanov filed for damages against the state and against Lithuania's Central Bank on March 14, spokesman for the Vilnius Regional Court Gintautas Stalnionis told RIA Novosti on Tuesday.

Romanov has asked the court to overturn the Central Bank's decisions to restrict the operations of Ukio Bankas, to appoint a temporary administrator to the bank and to transfer parts of the bank to Siauliu Bankas. He is also demanding that the state should reimburse the damages he sustained due to the Central Bank's actions.

The Lithuanian Central Bank restrained Ukio Bankas' operations on February 12 to protect its clients' interests, following its receipt of the administrator's report and other data. An inspection held at the bank in December 2012 and January 2013 showed that the bank engaged in risky transactions, underrated credit risks and failed to make loan loss provisions. The Central Bank also stated that Ukio Bankas liquidity ratio was below the acceptable level as of February 12.

Based on the administrator's report, Lithuania's Central Bank governors decided to begin talks on the transfer of Ukio Bankаs' property, rights and responsibilities to Siauliu Bankas.

According to unconfirmed information from Lithuanian TV network LNK, Romanov claims that the Central Bank had known about his bank's problems for several years. He claims that after Snoras Bank collapsed, they coordinated an action plan with the Central Bank to prevent Ukio Bankas from the same fate. Ukio Bankas allegedly fulfilled 90% of the approved requirements, but the Central Bank closed it down just as the situation improved.

Romanov may be seeking as much as 70 million litas (20.3 million euros) in damages.