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TGS Baltic Successful for Former Directors and Shareholders of Bankrupt Credit Union Against Claim for Damages

TGS Baltic Successful for Former Directors and Shareholders of Bankrupt Credit Union Against Claim for Damages

Lithuania
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TGS Baltic has successfully represented the former directors and shareholders of bankrupt credit union Amber in a dispute involving a claim for damages.

Amber claimed that the company's directors and shareholders had contributed to and effectively carried out fraudulent transactions, thereby appropriating funds from Amber and causing damage. The Lithuanian Court of Appeal rejected Amber's arguments and upheld the decision of the Vilnius Regional Court to dismiss the charges upon a finding that the former directors and shareholders had not committed any unlawful actions against the credit union.

The TGS Baltic team consisted of Associate Partner Zydrune Stuglyte and Associate Berta Kasetaite. 

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