TGS Baltic has successfully represented Siauliu Bankas in a dispute with the Bank of Lithuania regarding a sanction the central bank imposed for violations of legal acts regulating the prevention of money laundering and terrorist financing.
According to TGS Baltic, “the Court of First Instance dismissed Siauliu Bankas’ complaint; the Supreme Administrative Court of Lithuania however annulled the judgment of the Vilnius Regional Administrative Court and remitted the case to the court of first instance for re-examination.”
TGS Baltic’s team included Partner Zygimantas Stankevicius, Senior Associate Tadas Varapnickas, and Associate Egle Masyte.
Editor's Note: On October 19, 2022, TGS Baltic announced that the "Vilnius Regional Administrative Court partially upheld the complaint of Siauliu Bankas and reduced the fine imposed on the [bank] by the Board of the Bank of Lithuania from EUR 880,000 to EUR 440,000."
