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Our client’s interests in a dispute with Iki Lietuva were successfully defended in court, with damages sought in excess of EUR 0.5 million. The damages dispute was complicated as the plaintiff sought damages from the director and shareholder of the bankrupt company.
This dispute is significant for legal practice as it was clarified that the director of a company is not required to disclose information about the company’s foreign bank accounts to the bailiff. In order to seize funds held in foreign bank accounts, the procedure set out in Regulation (EU) No 655/2014 of the European Parliament and the Council of 15 May 2014, which establishes a European Account Preservation Order procedure to make cross-border debt recovery easier in civil and commercial cases, must be followed.