Successful and expedient settlement over unlawful freezing of funds by a financial institution

Our client, a Cyprus-based company, held a business payment account with a Lithuanian neobank.

The bank, without proper prior notice and without disclosing any factual or legal grounds, restricted the account and froze the entire balance, effectively disrupting our client’s business activities.

For almost a year, our client tried to resolve the situation on its own; however, unsuccessfully. Our dispute resolution lawyers were engaged to recover frozen funds, eventually filing a claim of over six figures. In a matter of weeks, we were able to secure a favorable settlement for our client, returning the frozen funds, accrued interest, and having all legal fees fully compensated.

This case is one of many examples of how counsel’s involvement in FinTech disputes related to frozen funds can lead to successful and expedient settlement.