Concerning the approval of a conciliation and termination of civil proceedings

The Supreme Court of Lithuania in its decision dated 3 July 2018 approved the conciliation between PLLC “Zemaitijos pienas” / AB „Žemaitijos pienas“,the Investor association and Vytautas Plunksnys. Under the conciliation the defendant PLLC “Zemaitijos pienas” has withdrawn the requirements raised in the cassation complaint, and the plaintiffs, i.e., the Investor association and Vytautas Plunksnys the requirement stipulated in the claim. Dispute between the Parties is brought to a close after the approval of the conciliation between the Parties and civil proceedings are terminated. The essence of the dispute – requirement of the plaintiffs to annul a part of the decision adopted by the General Meeting of Shareholders of PLLC “Zemaitijos pienas” on 16 September 2016 allocating share of profits amounting to EUR 749 400 to members of the company’s management board and supervisory board.

Lawyer

G. Keliauskas