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Cobalt Successful for East West United Bank in EUR 44 Million Claim

Cobalt Successful for East West United Bank in EUR 44 Million Claim

Lithuania
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Cobalt has successfully represented Luxembourg-based East West Bank S.A. in a civil case against AB Bank SNORAS for termination of contracts, refund, and damages.

According to Cobalt, Lithuanian courts of all instances supported the position of Cobalt and East West Bank that the dispute was not properly heard in Lithuanian courts and that the case should be heard in the courts of Luxembourg.

East West United Bank S.A. is a Luxembourg bank specializing in private and business banking for over 40 years.

AB Bank SNORAS is a Lithuanian commercial bank which belonged to the Konversbank financial group and which went bankrupt in 2011.

The Cobalt team was led by Partners Elijus Burgis and Paulius Markovas and included Attorney-at-Law Modestas Petrauskas.  

Lithuanian 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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