Article 46 of the Constitution declares that the Lithuanian economy is based on the right to private ownership, along with the freedom of individual economic activities and initiatives. Despite these constitutional freedoms, private businesses in Lithuania are subject to detailed regulations. First of all, economic activity in Lithuania is regulated by the national and EU legal acts relating to company law, tax law, contract law, intellectual property law, insolvency law, competition law and others. In addition, these laws include provisions for special sectoral regulations and the supervision of activities in individual sectors of the economy, which is performed by state institutions that are specially established for these purposes, such as the Bank of Lithuania, Communications Regulatory Authority and the State Energy Inspectorate, among others. This abundant and complex regulation of the country’s economic activity, in combination with complex business projects, unfulfilled investment expectations and financial scandals, is causing various types of litigation and arbitration disputes.
In practice, financial and business disputes cover a wide and crucial range of topics. This is why the CONFIDENCE team has accumulated an exceptional range of experience and an abundance of practical knowledge, to reliably defend the rights and legitimate interests of various businesses, their shareholders, creditors, investors, suppliers and financial institutions. The group of financial and business dispute experts in the CONFIDENCE practice is headed by the well-known Lithuanian civil law expert and lawyer, Dr Laurynas Didžiulis.