A judicial composition has been designated by the bank Norvik and its shareholders in the context of a dispute with the Latvian state

Photo – LETA / EPA

The Composition of the Tribunal Appointed by Norvik Bank and Its Shareholders in a Dispute with the Latvian State, Information Provided to the International Center for the Settlement of Investment Disputes (ICSID)

ICSID reports that the July 5 court has three members – the trial president, James Spigelman, from Australia, and agreed between the plaintiff and the defendant. Another court composed of Stanislav Aleksandrov of Bulgaria appointed by the plaintiff and Peter Tomka of Slovakia appointed by the defendant.

The LETA agency has already reported that the application was filed by Norvik Bank and its owners, Aglaja Guseïikova, Aleksandrs Guseïkovs, Grigory Guseïkov, Pyotr Guseļnikov and Julia Guseļņikova. ICSID was registered on December 28, 2017 at the beginning of the arbitration proceedings.

The Bank and its controlling shareholders appealed to the arbitral tribunal, complaining of "unfair, arbitrary, reasoned and unjustified regulatory approaches taken by the Latvian authorities against the bank."

] "The Bank and its controlling shareholders appealed to the arbitral tribunal as a result of an unfair, arbitrary, reasoned and unjustified regulatory approach adopted by the Latvian authorities against the bank in breach of Latvia's obligations under international law

Arbitration claims were made after unsuccessful negotiations between the Latvian government and the bank, during which a number of solutions were proposed by the bank to achieve mutual benefit. Both the Bank and its controlling shareholders hope to reach a mutually acceptable settlement agreement with the Latvian government, but have launched an arbitration process to protect and enforce their legal rights, "said representatives form the bank. that the complaint lodged against the Latvian State also alleged that the "Latvian high official" had attempted to extort bribes from the bank to abuse his position in order to prevent the financial and financial markets (CFMC) to exert pressure on the bank. Gusselnikov, who has said publicly, is accused of corruption by the President of the Bank of Latvia, Ilmars Rimšēvičs, who in recent years has ousted bribes from his credit institution. Guseļņikov also appealed to the national police last December about a possible commitment by the Latvian state authorities to extort a bribe from him. Police initiated criminal proceedings in this case

Rimsevich told reporters that Guseïkov's activity in Latvia is well planned. "People who have experienced such lawsuits say that it's a well-planned affair since 2013," Rimsevich said at a press conference, adding that Guselnikov is not the real owner of the Norvik bank. He also pointed out that in the request to the Bank of Latvia, the things he can not do are "depreciated" because the Bank of Latvia does not monitor the banking activities and can not influence the activities of the FCMC , an independent institution with an independent board of five people. Rimsevich

It was also reported that Rimsevich was arrested in February and released against the bailout of 100,000 euros in another criminal investigation conducted by the Office of Prevention and Fight against Corruption (KNAB). in which he is suspected of a large amount of demand for bribe and acceptance. The entrepreneur Maris Martinsons was arrested and then released to support a possible crime. The case of KNAB against Rimšēvičs and Martinsons began after two claims of unnamed shareholders of Trasta Komercbanka. Rimšēvičam was charged with a criminal offense under section 320, part 4, of the Penal Code for accepting bribes, and Martinson was charged with section 320, Part 4 of the Criminal Law. KNAB sent a criminal case to the prosecutor 's office on June 18 against Rimsevics and Martinson

Norvik Banka reported a loss of 43.914 million euros last year, but the group' s losses last year they stood at 47.715 million euros. . The auditor of the bank PricewaterhouseCoopers has reserves

The badets of Norvik banka as of December 31, 2017 amounted to 789.093 million euros, or 10.1% less than the end of 2016, when banks had badets of 878,176. millionaire