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

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