
How can a CEO avoid being held hostage by the company?
The Law on Companies of the Republic of Lithuania (the “Companies Law”) entitles the CEO of a private limited liability company (the compa…
Law firm GLIMSTEDT represented and successfully defended the interests of its client – security company G4S – and its insurer ACE in the appeal case of nearly EUR 3.5 million concerning the restaurant Senoji kibininė that burned down in summer 2010.
By its ruling of 7 October 2016, the Court of Appeal of Lithuania upheld the first instance decision that the security company provided services in a proper manner and that actions of the company (its security guard) were in conformity with the contractual obligations and the requirements of the physical protection manual, thus rejecting the claims for damages by claimants and insurance companies.
In these long and complicated proceedings covering the legal issues of contractual civil liability, as well as insurance relationships and invalidity of transactions, the GLIMSTEDT team was led by Associate Partner Inga Klimašauskienė.