The Russian joint-stock company for a long time
For a long time, a Russian joint-stock company bought products from a Latvian farm and, under a long-term supply contract, transferred monthly amounts to its account to pay for it. At the beginning of 1995, the details of the supplier’s bank account changed, which the joint-stock company was not notified about and paid for the next batch of goods according to the old details. As a result, the money went to the account of one of the Riga companies, which in Russia had its own branch. The Russian joint-stock company turned to the company with a request to return the amount illegally received, but it did not respond to the request and did not return the money.
Is a Russian joint-stock company entitled to demand from a Riga company the return of this money? Is the Russian arbitration court competent to consider the requirements of a Russian joint-stock company, and if so, in accordance with the law of which state? Analyze the problem of the possible enforcement of a Russian court decision in Latvia.
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