Head of Banking and Finance practice group. Andrius has over 15 years of legal experience advising clients on a variety of matters concerning business financing, insolvency of credit institutions, tax planning, mergers and acquisitions, real estate as well as contract and commercial law.

NOTABLE EXPERIENCE

Financing

• Issue of bonds and collateral. Advised clients on issue of the bonds worth in excess of € 160 mio to a couple of clients. Drafted pertaining transaction documents concerning collateralization of assets in Lithuania.
• Negotiations with banks. Represented clients involved in a variety of business sectors in negotiations on financing and mortgage of transactions with all commercial banks operating in Lithuania in connection with over € 500 mio worth of loans.
• Bank insolvency proceedings. Represented over 300 foreign legal entities in the insolvency proceedings of bankrupt banks SNORAS and Ūkio bankas for their payments to be received under the deposit insurance scheme in the national Lithuanian courts of all instances. Drafted an application to the European Court of Human Rights concerning expropriation of property from foreign nationals against Lithuania violating the regulations of public international law on protection of foreign nationals’ property.
• Negotiations with insolvent banks. Represented the client in the national courts of all instances to prove that Lithuanian court hearing the insolvency proceedings of a commercial bank had no jurisdiction over the merits of the case in Lithuania. Succeeded to prove that the EU law required the case to be heard outside of Lithuania thereby achieving that the problem was resolved by an agreement appropriate to the client.
• Matters concerning payments under depositors’ and investors’ insurance schemes. Represented the interests of over 500 individuals in the Lithuanian courts of all instances and the EU Court of Justice and proved that the persons who had made investments in the yet-to-be approved issue of shares of bankrupt bank SNORAS, were entitled to receive payments under the depositors’ or investors’ insurance scheme enshrined in the EU law. This was an unprecedented proceeding in Europe, which succeeded in escalating the matters relevant to the proceedings beyond Lithuanian jurisdiction and proving that Lithuania had wrongly implemented the EU law, thereby violating the rights of thousands of its residents. Currently, the aim is to have interests paid to the persons for the entire litigation period concerned.
• Dealings with mortgage creditors. Advised clients on the long-term strategy for sale of assets owned by insolvent companies and represented their interests in dealings with mortgage creditors (banks operating in Lithuania). Represented clients in insolvency proceedings lasting more than a decade and ensured a phased-out sale of assets under market conditions.
• Finance raising transactions. Advised clients to raise over € 400 mio worth of private funding in the manufacturing, transport, real estate, consumer credit and the services sectors and for loans and for subordinated loans to be granted as well as for capital investments and joint ventures.

Taxes

• Real estate projects development. Advised persons on investments in small and medium-sized residential real estate projects and their legal aspects in relation to taxation of profits from the projects. Assisted the clients in tax planning, obtaining a written approval from the tax administrator and successfully implementing a more favourable business model concerning the investments in residential real estate projects.
• Reinvestment in Lithuania. Advised a client on disposal of the business and reinvestment of funds in Lithuania through a corporate structure creating protection for international investment and more effective taxation. Succeeded in this process after more than 3 years and defended the client’s interests at the company’s and the natural person’s level, against the regional and national tax administrator.
• Advised clients on pulling out investments from Lithuania in a tax-friendly manner.

Businesses acquisitions and disposals

• Structure of transaction, transaction arrangements, competition issues and completion of transaction. Advised clients on investments in manufacturing, transport, design, logistics, consumer credit, service, real estate, construction, lottery, courier services, renewable energy, cable television, advertising and media, television and radio, financial leasing and other businesses. Drafted transaction documents, merger notifications and notes on compliance with the national security interests, and advised on licensing and operational matters.

Real estate

• Cash flow generating real estate transactions. Represented clients in acquisition of the shopping centre Saulės miestas, the business centres Ulonai and Evolution, logistics warehouses in Vilnius, Kaunas Free Economic Zones and the hotel Holiday Inn.
• Building and reconstruction. Represented clients in negotiations on construction of 20 K sq. m factory and reconstruction of the shopping centre in Vilnius.