OREANDA-NEWS. February 17, 2010. The joint-stock company “Latvijas Krajbanka” (hereinafter referred to as - Krajbanka) informs that it has filed a claim in the London Court of International Arbitration on the dispute between Krajbanka and AS “Parex banka” regarding the repayment of EUR 2`000`000, as well as payment of the interest in the amount of EUR 139 761,01 calculated in accordance with the escrow account agreement, reported the press-centre of Latvijas Krajbanka.

Krajbanka has already informed that on 24 April 2008 it concluded the contract (hereinafter referred to as – the Contract) with AS “Parex banka” on the acquisition of AP Anlage & privatbank AG shares. Since before the closing date of the transaction no circumstances were provided, the entry of which is required in order Krajbanka would be obliged to make the transaction closing operations, on 23 October 2009 Krajbanka submitted AS “Parex banka” the request (notice on dispute) on the repayment of the previously paid sum in the amount of EUR 5`000`000.

According to the said request AS “Parex banka” has repaid Krajbanka a part of the prepayment in the amount of EUR 3`000`000. AS “Parex banka” has not repaid the residual part of the prepayment in the amount of EUR 2`000`000, and has sent Krajbanka a notice on the unilateral withdrawal from the contract. Since the transaction parties fail to agree on the repayment of the residual prepayment amount, Krajbanka has delivered the dispute for consideration to the London Court of International Arbitration.