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RASK represents trustees of Levadia Metall in dispute worth 37.8 million euros.


RASK successfully represented the trustees of Levadia Metall in a dispute with Parex bank. The claims submitted in the dispute amounted to 37.8 million euros.

In 2006, Levadia Metall’s subsidiary Meridiaane acquired the then most expensive real estate object in Estonia, paying 596 million Estonian kroons for a lot in the city centre of Tallinn. The purchase was financed by Parex bank. As a result of the collapse of the real estate market, the project was unsuccessful and Meridiaane went bankrupt. Parex bank contested the claim by Levadia Metall in the Meridiaane bankruptcy proceedings.

Levadia Metall OÜ (in bankruptcy) was one of the largest companies in Estonia selling metal products; it was owned by Viktor Levada, who has been given the title Estonian metal magnate. In 2011, Levadia Metall OÜ went bankrupt due to the global economic crisis.