The Latvian office of TGS Baltic has assisted AS DNB Banka and its group companies during the insolvency proceedings of a debtor and in related legal proceedings, resulting in partial settlement of the claims and the takeover of the real properties pledged as security for the loan by a company in the DNB Banka group.
According to TGS Baltic, its assistance "included representation of the bank and its group companies against the debtor, the debtor’s shareholders and representatives, the insolvency administrator, and other creditors of the debtor during the litigation proceedings." In addition, the firm reports, "the bank and its group companies were provided support in taking over the pledged assets and on the issues of administration and management of the real properties."
The TGS Baltic team was led by Managing Partner Ivars Grunte and included Attorneys at Law Nauris Grigals and Andis Paunins.
