Global Kobre & Kim Issues $100m Summons Against Indian MNC in Dutch Court for Defiance of Asset Freezing Order
October 1, 2019
A team of Kobre & Kim lawyers continue to ramp up pressure against Indian technology infrastructure provider Rolta Global on behalf of client Pinpoint Asset Management with the serving of a U.S. $100 million summons in the Amsterdam District Court for allegedly failing to comply with an earlier freezing order.
International judgment enforcement lawyer John Han explained the freezing order as a move to preserve Rolta’s shares as they “obtain a judgment in the [simultaneous] New York proceedings and then can enforce it in the Netherlands,” where the subsidiary Rolta Global BV is based.
The summons – which was served on Rolta Global BV as well as Rolta India Ltd. chairman and CEO Kamal Singh – demands payment of $100 million as penalty for alleged failure to comply with the order, as well as for the parties to appear at an October 24 hearing at the Amsterdam District Court in the Netherlands.