Defence of Swedbank AS against claims submitted in an insolvency process

Our dispute resolution and banking teams defended Swedbank AS against unfounded damages claims submitted by a bankruptcy trustee. A bond issuer, whose bonds the bank had offered to its clients, was unable to redeem the bonds and was declared bankrupt. The trustee demanded that Swedbank AS should reimburse the damages, because the bank was effectively controlling the bond issuer. The case reached the Supreme Court who issued a precedent. The court supported our argument that the bank did not control the company nor was it liable for the damage.

WALLESS Weekly Review

Subscribe and receive the summary of the Lithuanian Supreme Court's rulings every week in your inbox. The information is prepared by the WALLESS Arbitration and Dispute Resolution Team.

Please note that review is in Lithuanian.