TGS Baltic successfully defended the interests of Klaipėdos nafta before the court of first instance

20.04.2022 TGS Baltic successfully defended the interests of Klaipėdos nafta before the court of first instance

TGS Baltic team represented the client, one of the largest energy resources logistics companies in the Baltic States, in the court of first instance, proving that the company's shares were legally granted to its employees: the transactions comply with legal regulations and international practice.

The plaintiff, defending the public interest, requested that the rules and agreements on granting shares of Klaipėdos nafta – a state owned company – be declared invalid on the basis that state owned companies cannot grant shares to their employees.

The Šiauliai Regional Court that settled the claim stated that Klaipėdos nafta had used exclusively its own (company’s) and not state property when paying a part of the annual bonus to employees in the form of shares. Therefore, the legal acts regulating management, use and disposal of state property cannot be applied to such share granting and, therefore, dismissed the claim and awarded Klaipėdos nafta its litigation costs.

The client Klaipėdos nafta in this case was represented by TGS Baltic team consisting of Agnius Pilipavičius, Vytautas Zelianka, Tadas Varapnickas, Audinga Liekytė and Berta Kašėtaitė.