Commercial arbitration

SwemBalt v. Latvia


Annotation: The dispute that was the subject of arbitration proceedings concerned a Swedish company, SwemBalt’s claim for compensation for the loss of a vessel. The vessel was positioned in the Port of Riga Latvia in April 1993, allegedly with permission from the relevant Latvian authorities. On 28 March 1994, a representative of the Port of Riga removed the vessel. No representatives of the owner were present. Numerous objections were made on the part of the owner and other parties. On 3 May 1996, the Latvian Maritime Authority announced that the vessel should be sold at a public auction. The vessel was designated a wreck, and the Maritime Authority had decided that the vessel, owing to its being positioned in the place to where it was towed from the Port of Riga, constituted a danger to maritime traffic. In spite of objections from the Swedish side, the vessel was sold at auction in July 1996 for scrap value.



KanAm Grund v. SIA PK Investment


Annotation: Annotation: Procedural differences when appealing decisions on recognition and enforcement in Latvia of foreign court adjudications and foreign arbitration court awards