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Cobalt Helps Luminor Bank Obtain Termination of Reorganization Proceedings of Estonian Dumpling Producer

Cobalt Helps Luminor Bank Obtain Termination of Reorganization Proceedings of Estonian Dumpling Producer

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Cobalt has helped Luminor Bank request the termination of the reorganization proceedings of dumpling producer Uvic.

According to Cobalt, "the reorganization was intended to postpone the payment of the bank's claim of more than EUR 9 million for ten years. Due to numerous abuses by Uvic, the court terminated the reorganization proceedings that began back in 2017, also refused to initiate new reorganization proceedings, and on the 18th of June, 2020, at the request of Luminor Bank, declared Uvic bankrupt."

The court found that instead of actual reorganization, company assets were redirected from the company without the knowledge of the creditors.

Cobalt's team consisted of Senior Associate Kristina Schotter.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

All News about Cobalt can be found here.

 

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