TGS Baltic successfully represented Orion Asset Management in a dispute with the Bank of Lithuania

04.08.2021 TGS Baltic successfully represented Orion Asset Management in a dispute with the Bank of Lithuania

We represented one of the longest-running asset management companies in Lithuania, Orion Asset Management, in a case concerning a fine of EUR 40.000 imposed by the Supervisory Authority of the Bank of Lithuania.

The Vilnius Regional Administrative Court ruled that Orion Asset Management had not violated the law by concluding several transactions on its own account in shares of investment companies and investment fund units and, therefore, annulled the fine imposed by the Bank of Lithuania. It should be noted that the decision is not final, it can be appealed.

Partner Agnius Pilipavičius, senior associate Tadas Varapnickas, junior associate Ieva Bilotaitė advised the client on all legal issues.