Lawyers of TGS Baltic currently work in all major legal processes following the bankruptcies of AB SNORAS and AB Ūkio Bankas.
In 2012 – 2013 the law firm represented State Enterprise “Insurance of Deposits and Investments” in the process of transferring a part of assets and liabilities of AB Ūkio Bankas to AB Šiaulių Bankas, which was the first transaction of this type ever executed in Lithuania.
Currently, the firm provides legal advice in bankruptcy administration procedures and work in the team of bankruptcy administrator of BAB Ūkio Bankas. The legal services provided by TGS Baltic include advising the bankruptcy administrator in his day-to day activities, representing the bank in litigation procedures, coordinating asset recovery processes in Lithuania and abroad, advising in the processes of sale of assets of the bank, coordinating the closing of representative offices of the bankrupt bank in Russia, Bosnia and Herzegovina, Scotland and Kazakhstan. The team, led by partner Vidmantas Drizga, includes partner Marius Matonis, associate partners Deimantė Korsakaitė, Agnius Pilipavičius and Donatas Zdanavičius, litigation experts Adomas Kunčius, Marius Brasiūnas and number of other lawyers, providing specialist advice in their respective fields.
TGS Baltic continues to represent State Enterprise “Insurance of Deposits and Investments” in disputes against the creditors of AB SNORAS regarding the payment of insurance premiums to the holders of deposits, bonds and deposit certificates of AB SNORAS. In a related matter, TGS Baltic office in Riga represented KPMG in bankruptcy administration of Latvijas Krajbanka, which is the subsidiary of AB SNORAS in Latvia.
