Represented New Europe Real Estate Ltd in the arbitration and litigation arising from a real estate transaction

Represented New Europe Real Estate Ltd in the arbitration and litigation arising from a real estate transaction, where the initial claim was secured in favour of the client before an action was broght in arbitration court. The action was brought to the Court of Arbitration of the Latvian Chamber of Commerce and Industry regarding performance of transaction and collection of the purchase price in the amount of approximately EUR 9.5 millions from the defendant (a Spanish company). During the first court hearing the parties agreed to commence settlement negotiations. As a result the proceedings at the arbitration court were closed with a settlement. (Latvia)