23
Fri, Apr
47 New Articles

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
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

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.