OREANDA-NEWS. October 27, 2014. SORAINEN Latvia advised IDEAL-Trade Service, a leading Czech company in the supply of technological equipment and chemicals for surface treatment, compressors, and other ancillary products and services, in a dispute with a Latvian contracting partner.

After a year-long negotiations, SORAINEN Latvia managed to reach an agreement with the debtor by concluding a settlement agreement at notary public through a form of notarial act, thus benefiting from the new procedure under the Civil Law, the Civil Procedure Law and the Notary Law (in force since end of 2013) that in case of non-fulfilment allows to transfer the obligations to a bailiff for enforcement without being brought to court and significantly saves litigation costs and time.

The client was advised by partner Agris Repss and associate Valts Nerets.