Judge Won't Nix Discovery Order In Lithuania Bank Fight

Law360, London (August 26, 2020, 2:14 AM BST) -- A New York judge said Tuesday she would not reconsider her decision allowing a Russian investors' rights organization to seek evidence in support of arbitration against Lithuania over the nationalization of a prominent bank, rejecting arguments that recent Second Circuit precedent should alter her analysis.

U.S. District Judge Analisa Torres had decided last month to allow The Fund for Protection of Investor Rights in Foreign States, which was assigned the claims of a Russian investor in AB Bankas Snoras, to seek discovery aimed at shedding light on the process by which Lithuanian regulators allegedly forced Bankas Snoras into bankruptcy.

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