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RussianLegal continues to defend the interests of the owners of the Four Elements hotel brand

Today the Ninth Arbitration Court of Appeal upheld the decision of the court of first instance, which dismissed the claim of the Latvian AS PNB Banka to recover 18M EUR from the Cypriot company Saltine Limited (case No. A40-201894/2020).

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

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. The Court of Appeal rejected the plaintiff's arguments and agreed with the Law Office's position that there were no grounds for recovery of the principal debt.