- About Us
M&A and CorporateRegulatory & Competition
Represents AB SEB bankas in a case regarding damages, where the client is accused of having improperly fulfilled its duties provided for in legal acts (the Law on the Markets in Financial Instruments, MiFID) in connection with consultations to bank clients – non-professional investors on investment issues (2018);
Represents shareholders and related companies of one of the biggest company groups in the Baltic States VP Group in a dispute with minor shareholders regarding invalidation of transactions and application of restitution; the amount in dispute amounts to almost EUR 100 million (2018);
Successfully represented UAB Dangų inžinerijos centras and two its employees in an unfair competition case, where respondents were accused of suspected misappropriation and use of the claimant’s commercial secrets about the claimant’s clients and technologies used by it and damages were claimed from the respondents (2015–2017);
Successfully represented UAB Senojo bokšto klinika in a dispute with another medical clinic and the former head and shareholder of the clinic regarding compensation for property and non-property damage caused by unfair competition actions. The case was about even 4 separate types of illegal actions of unfair competition by the respondents: solicitation of even 20 employees, use of misleadingly similar name, dissemination of untrue information and unlawful disclosure and use of the claimant’s confidential information (2014–2017);
Successfully represented UAB Vildeta, as a shareholder of BUAB Senasis akvedukas, in a case about compensation for damage in the amount of EUR 470,000 caused to the company and its creditors. The claimant sought to prove in the case a breach of duty of the shareholders and the head to apply for initiation of bankruptcy proceedings in a timely manner, also conclusion of contracts between the company and shareholders, which caused damage to the company. The case is exceptional because the statement of claim filed by the bankruptcy administrator who represented the claimant was rejected fully, in spite of the fact that in another case the claimant’s bankruptcy was admitted to be fraudulent and transactions between the company and the shareholders were admitted to be detrimental to the company (2015–2017);
Provided legal consultations in a complex civil case on compensation for damages to the insurer. The case examines the issue of the legal classification of the agreement concluded between the policyholder and the security company, which provides for limited civil liability of the security company. It was argued that the security company’s employee acted unlawfully and failed to prevent the fire in and retrievable loss of the protected object. The value of the dispute exceeds EUR 3,000,000 (2014);
Provided legal advice to investors in civil cases examined by the Supreme Court of Lithuania on compensation for damages incurred as a result of inadequate recommendations provided by AB DNB Bank on investing into equity-linked bonds and paying for the bonds using the funds borrowed from the Bank. The value of the dispute is over EUR 3.5 million (2014);
Provided legal consultations on the insurer’s possibility of recovering the insurance benefit paid to the policyholder under the trade credit insurance agreement. In addition to insurance matters, the legal assistance also concerned factoring and other complex legal relations (2014).
TGS Baltic successfully represented the insolvent SIA Viesis 2 claiming EUR 1,786,655.54 damages jointly and severally from its former management board members in order to enable the company to pay the claims of its creditors.