Success in the Icelandic bond dispute

Legal advisory and procedural defence of ČSOB and ČSOB Asset Management in two cases against specific claims related to Icelandic bonds and collapse of Icelandic banks in 2008. The plaintiff claims damages suffered as a result of alleged breach of the bank's obligations arising from the Agency Contract and Portfolio Management Contract respectively. The defence includes in-depth analysis of legal documents involved as well as reasons for the Icelandic crisis and its predictability. In 2019 the proceedings were split in to two independent proceedings and in one of these we successfully defended the bank - the legal action was stopped both by the court of first instance in 2020 and by the court of second instance in 2021. In respect of the second proceeding the first instance decision was issued in July 2021, and the bank was defended successfully.