TGS Baltic has successfully represented Swedbank before Estonia's Supreme Court against a EUR 1.75 million claim brought in a dispute with the bankruptcy trustee of Alberta Trade, a former Swedbank client.
The dispute began in 2017. According to TGS Baltic, the "Supreme Court declined to hear the opposing party’s cassation in May 2023, bringing the case to a successful finish."
"The dispute was complex and involved substantial volumes of evidence as [it] required analysis concerning metal goods with an approximate value of USD 18 million, that were given as a warranty to Swedbank," the firm reported. Additionally, the case also "required Estonian courts to give a thorough legal assessment of the concept of security ownership transfer agreements, which are not explicitly regulated by the law."
The TGS Baltic team was led by Partner Martin Tamme and Senior Associate Silvia Urgas.
