Our team has represented a real estate developer, which is a member of the largest business group in the Baltic States, before the Court of Appeal in a civil case regarding the compensation of damage inflicted by the former head of the company.
In this case, the Court of Appeal has provided several important explanations regarding the application of the limitation period and the impact which the replacement of company director can have on its legal status. These explanations may be important for further legal practice on the liability of company directors against the company.
The dispute was closely related to one of the largest real estate projects in Vilnius, which is planned to be completed in the next few years. Therefore, the court decision will have a significant impact on the implementation of the project and thus be significant for the commercial and residential real estate market.