FORT successfully represented buyers of non-issued “Snoras” shares in case where the defendant was obliged to pay procedural interest for the entire duration of the case
The Vilnius Regional Court granted the claim of 200 buyers of non-issued “Snoras” shares represented by FORT to award them procedural interest for the period of litigation.
State enterprise “Deposit and Investment Insurance” stated that the procedural interest does not belong to the buyers, because the benefits were paid to them after the victory in another depositors’ case handled by FORT. However, the Court found that the defendant had an obligation to pay either the deposit insurance benefit or the investor insurance benefit chosen by the person in a timely manner and had to compensate the claimants for the loss by paying the procedural interest.
At the beginning of June 2019 there will be decision in another case handled by FORT in which the buyers of non-issued “Snoras” shares are trying to claim a compensatory interest for the period of 5 years when State enterprise “Deposit and Investment Insurance” was delaying payment of insurance benefits.