Our Dispute Resolution team has successfully initiated litigation and protected the client – a corporate group in Lithuania that develops, manufactures and implements engineering products and solutions for the city, industry and energy. Our team has represented the client in initiating civil proceedings against one of the largest banks in the Baltic region, with a claim to prohibit the bank from making any payments to the beneficiary of the guarantee on the basis of the guarantees, the value of which is as much as 907’135,34 EUR, and ensuring the protection of the client’s interests through interim measures.
Our team expeditiously filed a lawsuit worth 907’135,34 EUR and an application for interim measures for the Vilnius District Court. Our lawyers provided a wide range of arguments that unequivocally substantiate the basis for a preemptive action claim, the existence of a threat of damage, moreover, that there are necessary to apply interim measures at this stage of the proceedings due real risk of non-compliance with a future judgment and prohibit the defendant from making any payments arising on the basis of bank guarantees.
The Vilnius District Court, having assessed the detailed arguments provided by our Dispute Resolution team, supported our position and even the next day decided to apply for interim measures – prohibited the bank from making any payments on the basis of the specified guarantees, the total value of which is 907’135,34 EUR.