The court ruled that the company challenging the decision had failed to establish the necessary conditions required to prove state civil liability. Specifically, the court found that the company could not prove both unlawful actions by the Lietuvos bankas and a direct causal relationship between the bank’s actions and the alleged damages. The legal dispute originated from the Lietuvos bankas’ decision, issued on January 20, 2022, which denied the company a license to operate as a specialized bank.
Baltic Financial Company asserted that this decision was both unlawful and without merit, arguing that the significant costs incurred while preparing for the specialized banking activities had resulted in demonstrable financial losses. The judgment centered on the legal threshold for holding a state entity accountable. Despite the company’s claims regarding substantial financial detriment, the court’s determination focused strictly on the burden of proof required for state liability claims.
In related operational matters, the Lietuvos bankas had previously granted a license to a consortium of entities to provide collateral financing services after a review process was completed, while Perlas Finance continued its focus on expansion. The court’s finding thus concluded the immediate dispute by ruling against the company’s claim for state compensation based on the specific legal criteria presented.
Topics: #company #state #court
