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Latvian court overrules airBaltic, Riga Airport asset freeze sought by Lithuania's flyLAL

Xinhua, October 29, 2015 Adjust font size:

The Latvian Supreme Court on Wednesday dismissed a request by fly-LAL-Lithuanian Airlines (flyLAL) to freeze assets of Riga International Airport and airBaltic, carrier, thus overruling a previous court ruling.

The court's civil cases department argued that the asset freeze would contradict Latvia's public policy and national security interests.

The Latvian Supreme Court took the decision despite the Court of Justice of the European Union's (CJEU) earlier findings allowing for the asset freeze.

The Supreme Court will release the full text of the verdict, which is final and cannot be further appealed, on Dec. 4.

In 2008, the Lithuanian Court of Appeals granted flyLAL's request to arrest about 58-million-euro (about 63 million U.S. dollars) worth of airBaltic and Riga Airport assets in a legal dispute in which the Lithuanian carrier blamed unfair competition in Latvia for its bankruptcy. Endit