Successful representation of clients’ interests in proceedings on proceeds of crime

In the beginning of October 2022, the Court of Economic Affairs ruled in favour of Ellex in Latvia clients in two separate proceedings on proceeds of crime: the Court rejected the requests of the investigators to confiscate funds for the benefit of the State and decided that both proceedings concerning the firm’s clients’ funds seized in the Latvian banks’ accounts should be terminated.

These decisions of the Court of Economic Affairs have not yet entered into force, but together with other decisions of this Court in proceedings on proceeds of crime, they mark a positive trend in handling of this category of cases since the specialised court began its work on 31 March 2021. The main objective of the establishment of the Court of Economic Affairs was to deal with complex commercial disputes, economic and financial crime and corruption cases in a high quality and expeditious manner.

Ellex in Latvia clients were successfully represented before the Court by attorneys-at-law Andris Lazdiņš and Roberts Rimša. The lawyers specialise in “white collar” crime cases, particularly in money laundering cases, as well as in representation and defence of legal entities and their senior management.

The first decision in favour of the firm’s clients by the Court of Economic Affairs in proceedings on proceeds of crime was adopted in October 2021 and has entered into force