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RussianLegal's victory in the EUR 18M dispute

Today the Moscow Arbitration Court dismissed the claim of Latvian AS PNB Banka to recover EUR 18 million from the Cypriot company Saltine Limited (Case No. A40-201894/2020).

RussianLegal represents the owners of the Four Elements hotel chain, who are involved in the case on the defendants' side.

This corporate dispute was initiated by a Latvian bank in order to form an evidentiary basis for foreclosure of a 5-star hotel in the center of Kirov. However, the court rejected the plaintiff's arguments and agreed with the Law Office's position that there were no grounds for recovery of the principal debt.