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Cobalt Secures Recognition of London High Court Judgement in Latvia

Cobalt Secures Recognition of London High Court Judgement in Latvia

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Cobalt is reporting that, on August 30, 2017, the Supreme Court of Latvia passed a judgment recognizing the rights of firm client Otkritie Capital International Ltd. to recover almost EUR 14.8 million.

According to Cobalt, "three years ago the High Court of Justice of England satisfied a claim by Otkritie Capital International Ltd. for recovery of more than 150 million U.S. dollars related to fraudulent conduct of the company’s former employees (as reported by CEE Legal Matters on February 12, 2014). Simultaneously with an application for recognition of the High Court judgement against one of the defendants, a Latvian citizen, Cobalt requested the Supreme Court to secure the claim by entering a pledge rights notation in the the Land Register on the properties of the defendant. The Supreme Court satisfied the request and as a result the client will be able to recover at least a part of the sum awarded by the High Court."

The Cobalt team consisted of Specialist Counsel Sergejs Rudans and Senior Associate Liga Fjodorova. 

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