Sorainen has advised Alfa Bank on debt recovery efforts against Lithuanian businessman Vidmantas Kucinskas, as well as identifying possibly illegal acts by Kucinskas, who is suspected of financial fraud and was detained when crossing the border between Slovenia and Croatia on July 15, 2020.
According to Sorainen, "Alfa Bank, together with other Lithuanian and foreign creditors, has been actively disputing unfair transactions by Kucinskas’ asset transfers and seeking more than EUR 40 million in debt recovery as well as an assessment of possible criminality."
Sorainen Partner Laurynas Lukosiunas, who is leading the firm's team, said that “in 2019 Kucinskas was prosecuted for large-scale fraud in Russia and could receive up to ten years in prison and a fine of millions of euros. Kucinskas’ detention and potential transfer to the law enforcement bodies of the Russian Federation may lead to prompt investigation and prevention of new offenses. This detention sends an important message to the international business community."
Apart from Lukosiunas, Sorianen's team included Associate Greta Kubiliunaite.
In 2018, Sorainen successfully represented Alfa Bank in the Lithuanian Court of Appeal in a related matter, concerning a decision involving guarantor's liability issued by the London Court of International Arbitration for the recovery of EUR 20 million from Kucinskas (as reported by CEE Legal Matters on December 18, 2018).
