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Banka Baltija, its liquidator and central bank all appeal court decision on compensation
Alla Petrova, BC, Riga, 17.11.2010.
Print version
Print versionThe Bank of Latvia, the once mighty, now defunct Banka Baltija (BB), and its liquidator - the firm BDO, have all filed appeals on the October 12 decision on compensation for losses.
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Back then, Riga Regional Court had ordered the Bank of Latvia to pay the liquidator LVL 59.9 million, but the demand against the Ministry of Finance was denied.
BDO firm filed suit against the state in May of 2005, demanding LVL 238 million to cover losses.
On October 12, Romualds Vonsovics, lawyer for the government, told reporters that the ruling would definitely be appealed.
BDO's attorney Vairis Brize had commented that he is unsatisfied with the rejection of the demand against the ministry, and this part of the suit may be appealed after he reviews the decision's motivation.
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