On 20 March 2018 a decision of the Riga City Vidzeme District Court entered into force, upholding Ir Nauda trademark registration of AS Cits medijs in a cancellation action filed by SIA Žurnāls Ir Nauda.
The Riga City Vidzeme District Court satisfied in full the counterclaim prepared by COBALT, taking no action regarding the claimant’s claim. During the court proceedings COBALT also secured provision of injunction relief in favour of Cits medijs.
Following the decision SIA Žurnāls Ir Nauda was precluded from using Ir Nauda trademark and the top-level domain name irnauda.lv. The claimant was also obliged to submit an application with the Register of Enterprises requesting deletion of phrase Ir Nauda from its corporate name Žurnāls Ir Nauda. Moreover, the court found that the claimant’s actions have resulted in unfair competition.