Our Dispute Resolution team successfully represented Baltijos stiklas in cross-border litigation before the Lithuanian Court of Appeals regarding the breach of the Guarantee Agreement, repayment of the debt and calculation of interest.
This was an appellation process, where the decision of Vilnius Regional Court was appealed by both sides. Defendant (Alumina) appealed that Vilnius Regional Court wrongly evaluated the origin of legal relations between the Defendant and the Claimant, turned a blind eye on the fact that the origin of the guarantee contract contradicts the legitimacy of the defendant, so the decision should be cancelled, and new decision adopted – declaring guarantee contract void.
Claimant (Baltijos Stiklas), on his behalf, appealed Vilnius Regional Court decision, emphasizing that Vilnius Regional Court wrongly calculated the sum of debt, as well as wrongly declared that profit interest and compensation interest cannot be calculated together, thus deviating from Lithuanian Supreme Court established practice.
Lithuanian Court of Appeals evaluated the situation effectively, after only 1 court hearing adopted decision, rejected the Defendant’s appeal and fully satisfied the Claimant’s appeal, which resulted in almost an additional 3’000’000 EUR sum awarded to the claimant.