Detention of funds in Lithuanian banks and fintech
30 May 2024
Legal assistance navigating the recovery of funds from Lithuanian banks and fintech
20 Jan 2024
Our law firm has successfully represented a South Korean company at the Court of Appeal of Lithuania in recognising and allowing enforcement in Lithuania of a final judgment of the High Court of the Court of First Instance of the Hong Kong ordering a Hong Kong company to pay over US$ 1,000,000 to the client based in South Korea.
The case was unique in that Lithuania has no bilateral treaties with Hong Kong on the recognition and enforcement of court rulings and specific Lithuanian and Hong Kong legislation had to be addressed in the case.
Our lawyers have managed to convince the Court of Appeal of Lithuania that the Hong Kong court judgment is final and enforceable. Furthermore, the lawyers of Sulija Partners successfully demonstrated to the Court of Appeal that the debtor possessed assets in Lithuania, enabling the recovery of the debt on behalf of our client.
Following the favourable court decision, our legal team continued to support the client by assisting the bailiff in compelling a Lithuanian electronic money institution to comply with the court order.
This successful outcome underscores commitment of Sulija Partners to delivering strategic legal counsel and innovative solutions for its clients in complex international litigation matters.
Šulija Partners Law Firm Vilnius, registered office Jogailos street 11, Vilnius, LT-01116, Lithuania, fax +370 52051926, e-mail: info@SulijaPartners.com
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