We successfully represented one of the biggest manufacturers of medicinal products in Bosnia and Herzegovina in the Lithuanian Court of Appeal. The company appealed against a decision of the Vilnius Court of Commercial Arbitration (VCCA).
VCCA ruling annulled
The VCCA ruled that the company concluded invalid contracts of transfer of claim rights, under which a creditor transferred to a third party its right to require the debtor to fulfil its obligation. As a result the VCCA ordered the company to pay over EUR 19.8 million.
The Lithuanian Court of Appeal upheld our client’s claim to the full extent and annulled the VCCA decision. This decision can still be appealed to the Lithuanian Supreme Court within three months.
Our team representing the client