The case was initiated in the context of former bank’s moratorium process. SKIPTON placed two payment orders at UKIO BANK immediately prior commencement of the bank’s insolvency process. Due to the moratorium started by the Lithuanian Central Bank, these transactions were suspended (not completed) and funds were returned to SKIPTON account. Following the later bankruptcy of UKIO BANK, the funds placed at SKIPTON account, has never been actually paid out to SKIPTON and/or transferred to the intended receiver. The plaintiff brought a claim against former UKIO BANK managers regarding their duties to ensure the proper functioning of the bank.
The court approved our position that SKIPTON did not prove all the necessary elements for civil liability to arise. Therefore, the court dismissed the claim and rendered a judgement in favor of former UKIO BANK managers. In addition, the court ordered SKIPTON to compensate our clients’ litigation costs related to the representation in the court.
Our services: drafting court documents, representation at the hearings.
Case value: above EUR 1 million.
Team involved: Giedrius Murauskas, Eglė Aleksiejeva.