Our team has defended a real estate holding in a public interest litigation against the General Prosecutor’s Office regarding the recognition of transactions and other documents being null and void. The Court of Appeals of Lithuania investigated a claim from the General Prosecutor’s Office against the defendants. The companies in question were a former national airline (the company now being under insolvency) and our client a real estate holding.
The claim sought to invalidate the previous decision made by the District Court of Vilnius which did not allow the cancellation of documents. These documents related to real estate acquisition transfer documents (including the preliminary agreement, the bill of exchange, and the act of sale of the real estate via auction by the bailiff). The main argument in defence of the client was the identical case started by the Ministry of Finance against the same defendants, which was completed with the settlement agreement approved by the court.