PNB Banka’s LCIA Arbitration Proceedings

Skrastins & Dzenis successfully represented the insolvent PNB Banka on the deal.

As reported in CEE Legal Matter and in others online publications PNB Banka partecipated in five arbitration proceedings at the London Court of International Arbitration, with the bank’s claims against its shareholders amounting to about €50 million.

The insolvent PNB Banka filed claims against its shareholders who reside in the US, France, and Switzerland. The shareholders failed to fulfill various obligations, which inter alia most importantly include a contribution to PNB Banka’s tier 1 capital. The claims filed by the insolvent PNB Banka amount to approximately €50 million.

The Skrastins & Dzenis team included Partner Verners Skrastins (Picture).

Involved fees earner: Verners Skrastins – Skrastins & Dzenis;

Law Firms: Skrastins & Dzenis;

Clients: PNB Banka;