Dispute Resolution practice group News 2024 | Q2
The Dispute Resolution Practice of Law Firm Ellex has prepared an overview of the news in the second quarter of this year, which includes both amendments to the legal framework and new findings in the case law, which are useful for businesses in resolving disputes, as well as latest developments in the professional growth of our team.
On June 6 of this year, Saeima (the Parliament) adopted amendments to the Arbitration Act and the Civil Procedure Act of Latvia, which came into force on July 4, 2024. The amendments introduces the principles of the UNCITRAL Model Law into national law, which brings the Latvian arbitration regulation closer to internationally recognized principles in examination of arbitration cases.
We invite you to review the latest findings of the Supreme Court regarding a right of claimant to receive six percent per year of the entire amount recovered under a judgment, not only the principal debt, until the execution of the judgment. At the same time, upon adjudication of criminal cases, the Supreme Court has specified the right of victims to recover expenses for the assistance of a lawyer in criminal proceedings under the civil procedure either.
With regard to the 14th package of sanctions, the current procedure is changed, as understood from the introductory text and updated Article 8(a) of Regulation no. 2024/1745. Accordingly, with these amendments to the legal framework, a higher emphasis of responsibility is placed on everyone, especially legal entities, so they do not violate EU sanctions against Russia. We invite you to be vigilant and far-sighted both in your day-to-day operations and in implementing appropriate procedures to protect your interests.
We sincerely hope that this news overview will be beneficial to our clients and a wider range of businesses. We are available to provide more detailed information and will share our next news overview after the summer holidays in October.
Dispute Resolution Practice of Ellex in Latvia.
