Panevezio Statybos Trestas

Legal Proceedings Report • Jun 15, 2022

Disclosure 409986

Panevezio Statybos Trestas - Notification on material event

Court judgement

By the court judgement dated 14 June 2022, the Panevezys Regional Court satisfied the complaint by the Company against the actions of the bailiff in the enforcement case and revoked the bailiff's orders regarding calculation of interest and enforcement costs - the bailiff's remuneration - and placed the bailiff under the obligation to recalculate the interest and enforcement costs indicated in the mentioned orders. It should be recalled that in its judgement the Supreme Court of Lithuania had vacated the ruling and the judgement byre the courts of the first and appeal instances and referred the case back to the appeal instance. In interpreting the provisions of the Law on Competition in relation to interest calculation, the Supreme Court of Lithuania found that the appeal court had misapplied the rules of the Law on Competition governing the procedure for calculation of interest due for the fine unpaid for infringement of the competition rights and stated that in all cases the maximum period of 180 days for calculation of interest should be applied.

Based on the orders under complaint, the calculated interest amounted to 1,385,178.76 Euros, whereas considering interpretation by the Supreme Court of Lithuania, interest due for the period of 180 days amounts to 251,906.30 Euros.

More information:

Egidijus Urbonas

Managing Director

Tel.: (+370 45) 505 503