Please note that we have amended our general terms and conditions. Please click here to read the amended WALLESS general terms and conditions, which became effective as of 1 November 2021.
Please note that we have amended our general terms and conditions. Please click here to read the amended WALLESS general terms and conditions, which became effective as of 1 November 2021.

WALLESS Prevailed in an Unprecedented Court of Appeal Director Liability Case

2020 04 20

WALLESS successfully represented a client in a complex damages case against the former CEO of the company. The Court of Appeal decided that the director was liable for EUR 5,5 M in damages caused by the unlawful transfer of a profitable company’s hotel business to a third party. The court dismissed allegations of the respondent that such transfer was necessary to protect the company’s assets from creditors that threatened the existence and continuation of the company’s business.

This is a significant case and one of the largest awards of damages in the modern Lithuanian legal history in such a category of cases. This decision will also be the base for future director liability cases and will influence the legal practice in this area.

WALLESS partner Dr. Simona Drukteinienė was the leading person in this case.

 

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Please note that review is in Lithuanian.