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Fort Successful for Buyers of Non-Issued Snoras Shares in Vilnius Regional Court

Fort Successful for Buyers of Non-Issued Snoras Shares in Vilnius Regional Court

Lithuania
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Fort has represented 200 buyers of non-issued Snoras shares before the Vilnius Regional Court in their claim in their successful claim for procedural interest for the period of litigation against the Lithuanian state enterprise Deposit and Investment Insurance.

Deposit and Investment Insurance had claimed that the procedural interest did not belong to the buyers, because the benefits were paid to them after the victory in another depositors’ case handled by Fort. However, the Court found that Deposit and Investment Insurance was obliged to pay either the deposit insurance benefit or the investor insurance benefit and had to compensate the claimants for the loss by paying the procedural interest.

The Fort team included Senior Associate Aiste Samuilyte-Mamontove and Associate Paulius Uosis.

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