Our Corporate team have contributed to the Lithuanian overview in the jurisdictional guide Restructuring & Insolvency 2014 from the Getting the Deal Through Series.
The 2014 edition of Restructuring & Insolvency looks at the existing frameworks and particular issues within each of the 45 jurisdictions across the globe on specific issues. Partner Giedrius Kolesnikovas, associates Beata Kozubovska and Jonas Povilionis provided their insights into the Lithuanian market. Together with an overall overview, the authors provide insight and information into the future development and trends of the market. They examine Natural person insolvency legislation which came into force in March 2013, as well as the expanded regulation on fraudulent bankruptcy which entered into force in October 2013 as a consequence of the rise in this type of insolvency cases, and being a result of the economic crisis.