Alleged damage case

Motieka & Audzevičius acted as leading counsels and strategic advisers in a dispute between the branch fone of the leading banking institutions in Lithuania and an enterprise providing automobile transit services in Europe.

The credit institution claimed over 1.5 million euros in damages from the insolvent company, its bankruptcy administrator, the former director and a newly established company. The credit institution argued that the insolvent company went bankrupt in bad faith. Thus, the liability for unpaid leasing services should be transferred to the new company, bankruptcy administrator and the former director. However, the court satisfied only a very small amount of the claim, constituting as little as 3 per cent of the initial claim and only from the insolvent company. The court also declared that the bankruptcy was not undergone under bad faith.

 

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