EUR 43 million claim against our Austrian client at the Riga Regional Court – withdrawn

AS Latvijas Krajbanka in liquidation have withdrawn their EUR 43 million damages claim against our Austrian client, another credit institution based in Vienna.

As far as our client is concerned, the claim at the Riga Regional Court turned on some of the most complex issues in international arbitration and cross-border insolvency proceedings. In particular, the effect of insolvency proceedings on international arbitral proceedings and vice versa.

Tark Grunte Sutkiene were the opposing firm in this matter.