Attorneys of Motieka & Audzevičius have represented the client in a dispute against financial institution.
The client signed a loan contract with a financial institution in order to finance a huge infrastructure public procurement project. The loan contract included overabundant contract securities. Thus, the client sued the financial institution demanding to declare the loan contract void for violating national rules of market concentration by the parties’ failure to report the loan contract before its conclusion to the national competition institution.
The client’s financial claim was assigned to the defendant financial institution by a contract. Our team succeeded in granting the client interim measures, under which the client was allowed to use limited amounts of assigned assets in order to be able to perform a public procurement contract and to avoid insolvency.
It is probably one of the first cases or even a unique case in Lithuania in which such type of regulating interim measures in pure property relationships were applied.