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Cobalt Secures Recognition of London High Court Judgement in Latvia

Cobalt Secures Recognition of London High Court Judgement in Latvia


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. 

Latvian 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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