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Lithuania Hires Swiss Law Firm for Snoras Case, BNS Reports

Oct. 2 (Bloomberg) -- The Lithuanian Finance Ministry hired Swiss law firm Lalive and the Baltic law firm Sorainen Partners to defend the country against claims arising from the takeover of Bankas Snoras AB, the Baltic News Service reported.

The ministry and the law firms signed a three-year contract worth 10 million litai ($3.7 million) on Sept. 24, the newswire said. Vladimir Antonov, the former majority owner of Snoras who is fighting extradition from London and civil charges over the lender’s bankruptcy, filed a suit against Lithuania over the takeover on May 7, BNS reported.

Antonov says the charges against him are politically motivated and discriminatory, according to BNS.

To contact the reporter on this story: Aaron Eglitis in Riga at aeglitis@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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