Motieka & Audzevičius has represented one of the largest Lithuanian beverage producers and a well-known Lithuanian glass manufacturing company in a dispute related to the validity of bank transactions and the validity of several loan agreements before the Court of Appeal of Lithuania.
The case is an unprecedented example of very high value cross-border transactions. Its parties are a currently bankrupt commercial bank and entities related to the bank itself, including foreign companies. A very important precedent was formed in this case by assessing the burden of proof that needs to be provided when proving transactions. In addition, this case had impact on scope of the criminal responsibility of the former bank’s shareholders and executives, some of them have already fled the country.