2014/12/19

€130 million dispute over fictitious transactions

In 2014, Pranas Švedas represented the investor of the largest Lithuanian group of companies in a €130 million dispute over fictitious transactions. A complex international dispute involved complicated issues of jurisdiction, restitution and contract validity and fictitiousness. It was a high-value dispute involving four jurisdictions. Pranas Švedas was responsible for the development of strategy and coordination of cases.

The outcome of the case was final resolution of property relationship matters between the client and one of the other shareholders. Meanwhile, the Supreme Court of Lithuania developed important case law on arbitrability of cases.