Motieka & Audzevičius has represented one of the largest Lithuanian agricultural company groups in the appellate court of Serbia in a case involving the recognition and enforcement of an arbitration award of Vilnius Court of Commercial Arbitration.
The case involved the granting of a loan to a natural person from Serbia by our client. The debtor failed to repay the loan and therefore according to the arbitration clause in the contract, the client initiated arbitration proceedings in Vilnius Court of Commercial Arbitration and in due course the court laid down a favourable decision towards our client. Initially, the domestic Serbian court of first instance refused to recognize and enforce the abovementioned arbitral award.
Our firm in cooperation with domestic lawyers subsequently launched an appeal and the decision of the court of first instance was annulled.