Judgment in the claim brought by SIA Publisko aktīvu pārvaldītājs Possessor, which was represented by WALLESS, against AS Grindeks shareholders becomes final

Judgment in the claim brought by SIA Publisko aktīvu pārvaldītājs Possessor, which was represented by WALLESS, against AS Grindeks shareholders becomes final
A judgment in the claim brought by SIA Publisko aktīvu pārvaldītājs Possessor (Possessor, previously known as the Privatization Agency) against AS Grindeks shareholders Kirovs Lipmans and Filips Lipmans for damages caused to the special state pension budget has become final. WALLESS represented Possessor in this case.
Riga Regional Court awarded damages of more than EUR 1.9 million due from father and son Lipmans. The two now have to pay the amount back to the State Treasury.
The court ordered the Lipmans family, jointly and severally, to pay to the Latvian state damages of EUR 1 903 294, and the costs of the proceedings and the expenses necessarily incurred for the purposes of the proceedings amounting to EUR 31 732 and EUR 7 133 respectively, making a total of EUR 1 942 160.
The Lipmans family filed a cassation appeal, but the Department of Civil Cases of the Supreme Court (SC) decided against initiating cassation proceedings. This means that the regional court’s judgment has become final.
The SC analyzed the arguments put forward in the Lipmans family’s cassation appeals and found that there is no apparent reason to consider that the outcome of the judgment under appeal might be incorrect and the case could be essential for ensuring the uniform case law or developing the legal framework. The SC’s ruling is not subject to appeal.
WALLESS team led by Partner Mārtiņš Mežinskis represented SIA Publisko aktīvu pārvaldītājs Possessor in this case.