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M&A and CorporateRegulatory & Competition
TGS Baltic was appointed to handle all legal issues related to the bankruptcy of AB Ukio Bankas, a major Lithuanian bank that went bankrupt in 2013. The includes a wide range of banking and M&A cross-border assignments as the assets of the bankrupt bank were located in Scotland, Ukraine, Russia, Bosnia and Hercogovina, Hong Kong, Switzerland and other countries. In relation to this project, the firm has handled matters with value in excess of 1 billion euros, including:
Ukio Bankas was the second bank in Lithuania to go bankrupt during the last economic downturn. Its bankruptcy process is thus closely followed by many institutions and by the general public.
A unique aspect in this assignment is that the firm's lawyers are part of the bankruptcy administrator's team, which requires participation in decision making and hands-on management of all aspects of the bankrupt estate. The complexity of the project has demanded that our team demonstrate extraordinary strategic vision, project management skills, full involvement in the matters and staffing flexibility.
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