SPC legal has successfully defended BUAB Sibimpeksas shareholders and directors in an intentional bankruptcy case before Lithuanian courts.
According to SPC Legal, “the plaintiff sought to prove that entire business model of BUAB Sibimpeksas was in prejudice of the creditors’ interests. The plaintiff tried to prove nearly all possible elements of intentional bankruptcy. The courts held that BUAB Sibimpeksas bankruptcy was not caused by the wrongful actions of the shareholders and directors, but it was simply a result of an unsuccessful business.”
The SPC Legal team included Managing Partner Giedrius Murauskas and Associate Tadas Katauskas.