01
Sat, Oct
43 New Articles

Cobalt Successful for AirBaltic and Riga International Airport Before Supreme Court of Lithuania

Cobalt Successful for AirBaltic and Riga International Airport Before Supreme Court of Lithuania

Deals and Cases
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Cobalt has successfully represented AirBaltic and the Riga International Airport before the Supreme Court of Lithuania against antitrust claims brought by bankrupt carrier FlyLAL.

"After almost 14 years of proceedings in Vilnius, Riga, and Luxembourg and after more than 40 court hearings, the endpoint has been reached in this case," Cobalt Partner Rimantas Simaitis commented.

According to Cobalt, in 2008, FlyLAL and its shareholders brought a claim seeking damages amounting to approximately EUR 140 million. "FlyLAL claimed damages from the Latvian companies in the context of an alleged agreement on lower fares at Riga International Airport and a conspiracy to eliminate FlyLAL from the relevant flight markets in Lithuania."

"This case was one of the first in Lithuania to deal with standalone claims for damages for alleged violations of European Union and national competition rules," Cobalt Partner Rasa Zasciurinskaite said. "AirBaltic, together with the Riga International Airport, had to defend itself not only against claims for damages but also against accusations that AirBaltic had engaged in predatory pricing in Lithuania and participated in a prohibited agreement with the Riga International Airport."

The Cobalt team included Lithuania-based Simaitis and Zasciurinskaite, Partner Marius Inta, and Senior Associate Vaidas Kontrimas, as well as Latvia-based Partners Ugis Zeltins and Sandija Novicka and Senior Advisor Girts Lejins.