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