The dishonest managers of the bankrupt company have been held liable for the company’s bankruptcy.
The Attorney at Law of Vilnius Law Firm SPES who represented the creditors of the bankrupt company was able to prove that the company was bankrupt by intentional dishonest actions of its former managers.
The Attorney at Law collected the evidence and revealed to the court that in preparation for the company’s bankruptcy and in order to avoid settlement with creditors, its former managers transferred the company’s activities to another legal entity, transferred the shares of the company fictitiously, and allegedly appointed a non-existent person as manager.
After having examined the case, the court declared the bankruptcy of the bankrupt company as intentional. The court not only found that there had been a transfer of activities, but also clarified that by fictitiously transferring shares to persons who did not intend to continue their activities, the former shareholders had entered into a transaction detrimental to the company and thus reduced creditors’ ability to satisfy their claims.
The court settled a dispute over the fulfilment of the retail premises lease agreement during the quarantine period.
The Attorney at Law of Vilnius Law Firm SPES defended the interests of the customer - the owner of the shopping centre in a legal dispute with a tenant of commercial premises.
The dispute arose over the tenant’s performance of its duties during the quarantine regimen established by the Resolution No. 1226 “On announcement of the quarantine in the territory of the Republic of Lithuania” of the Government of the Republic of Lithuania. The said Resolution has restricted the activity for the companies engaged in retail trade in clothing and accessories, as well as operating in shopping centres in the entire territory of the Republic of Lithuania from 7 November 2020. The Resolution (with later amendments of the Resolution No. 1226) prohibited the activities from 16 December 2020 to 18 April 2021. The tenant decided not to pay rent unilaterally during the entire period of activity prohibition and the landlord (customer of the Law Firm) has terminated the lease agreement.
After having examined the case, the court explained that the prohibition of trading activities established by the Resolution of the Government of the Republic of Lithuania was intended to the tenant - salesman, but not to the landlord – shopping centre, i. e., this prohibition did not imply an obligation to close the shopping centre. In the absence of the fault of the landlord due to the restriction of the activities of the tenant, the tenant cannot be released from the obligation to pay the rent.
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 ...
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