Latvian Banker Belokons wins his day in English court

Latvian banker and businessman Valerijs Belokons walked away from an English courthouse not only having won his case against a former business associate but some 35 million euros to the good, British media reported November 7.

According to the British Broadcasting Corporation (BBC) the case centered on a battle for control of soccer club Blackpool FC between Belokons and the wealthy Oyston family.

The judge in the case ordered the Oystons to buy out Belokons' share in the club for 31 million pounds (35 million euros) with the first installment payable within ten days.

The local newspaper in Blackpool has this interesting selection of remarks made by the judge, which paints Belokons in a positive light compared to his adversaries.

Belokons has had a long-running interest in soccer in the United Kingdom, having first invested in Blackpool in 2006. The club briefly flourished and played in the top division in English soccer but now plays in the second-tier league (confusingly called League 1).

He is the principal shareholder in Latvian boutique bank Baltic International Bank, which specializes in servicing wealthy overseas clients.

 

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