An Attorney-at-Law of Vilnius Law Firm SPES successfully represented and defended the interests of client - ex-spouse of the head of the bankrupt company - in litigation with the insolvency administrator of a bankrupt company, who claimed that the client’s real estate purchase transaction was fraudulent because of the subject and sought to direct the debt collection of the bankrupt company’s manager to that property.
The dispute arose due to the fact that the client, being married to the manager of a currently bankrupt company, purchased real estate in accordance with the provisions of the marriage contract as a personal property. The insolvency administrator sought to prove that the property was purchased under the common joint ownership of the spouses, therefore ½ of the property (the funds received for it) must be recognized as the property of the manager of the bankrupt company.
The Court that examined the case rejected the claim by stating that the claimant - a bankrupt company represented by an insolvency administrator - not only did not prove the defectiveness of the transaction, but in general had no right to make claims of this kind. The Court explained that the norms of the Law on Insolvency of Legal Entities entitle the insolvency administrator to apply to the court: 1) regarding the invalidation of transactions contrary to the goals of the legal entity’s activity and having an impact on the fact that the legal entity cannot settle with creditors that could be declared invalid on the grounds set out in the Article 1.82 of the Civil Code; 2) regarding recognition of bankruptcy as intentional, if it assumes that there are signs of intentional bankruptcy; 3) regarding the transactions entered into by a legal entity that it was not obliged to enter into, if these transactions violate the creditor’s rights, and the legal entity knew or should have known about it (actio Pauliana). While not being a party to the disputed transaction, the bankrupt company and its insolvency administrator are not entitled to dispute a transaction concluded by third parties unrelated to the company, none the less without proving how the disputed transaction prevented the company from settling with its creditors or how the disputed contract could conflict with the objectives of the legal entity’s activity.
An Attorney-at-Law of Vilnius Law Firm SPES defended the client’s interests in a dispute regarding compensation for losses upon conclusion of a replacement contract. The client was sued for alleged losses due to non-fulfilment of the contract, as a result of which the claimant had to enter into a replacement contract. An Attorney-at-Law of the Firm p...
An Attorney-at-Law of Vilnius Law Firm SPES successfully represented and defended the client’s interests in the Supreme Court of Lithuania. The Court of Cassation put an end to the dispute between UAB “Ecoservice” and one of the regional waste management centres. The Court clarified the supplier’s interest in disputing the amount of fund...
The Court ruled on the tenant's obligation to pay rent during the quarantine period. The team of Vilnius Law Firm SPES defended the interests of the client - the company operating the shopping centre - in a dispute with the tenant who evaded the payment of rent and marketing tax. The tenant of the premises argued that it should be exempted from paying the ...
The team of Vilnius Law Firm SPES represented the client in the acquisition of one of the largest shopping centres in Northern Lithuania - 18.500 sq. m. area Panevėžys shopping and entertainment centre “Babilonas”. We are happy with the client development and the opportunity to contribute to their success. More information about the transaction:http...
The cost of action by a disloyal leader is the award of all wrongly earned funds. The Kaunas Regional Court has examined the dispute between the Lithuanian Powerlifting Federation and its former President. The Federation applied to the Court by questioning the honesty and loyalty of the former President in organising the European Powerlifting Championships...