Estonian businessman claims 51 mEUR from Latvian state

Estonian businessman Indrek Kuivallik has gone to court against the Latvian state, and is claiming 51 million euros in compensation for his investments, writes Äripäev.

„Suing a state is an extreme measure, sort of last resort,” said Kuivallik who is founder of Estonian cable TV company Starman.

The dispute is between Winergy Ltd that is controlled by Kuivallik and owns Latvia’s largest wind farm, and a local bank Norvik Banka from which Winergy borrowed 18.6 million euros in 2012.

Read more from BBN


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: