Bankruptcy and insolvency - BalticLaw

Enterprises that intend ceasing their business activities, or which suffer from financial problems but continue their economic/commercial activities and seek the means for its turn-around must deal with issues of either bankruptcy or re-structuring. Both actions are governed by strict legal procedures necessitating legal consultations

Balticlaw team provides legal services in the field of individual and legal persons' insolvency and debt recovery. Representing both insolvent companies (conducting legal audits of contracts, filing claims for nullity of contracts, indemnification, etc.) and creditors, rights of small creditors in order to satisfy their claims:

  1. Representation of insolvency administrators
  2. Legal audit of companies
  3. Lawsuits for contracts nullity, compensation, etc. preparation and representation in courts
  4. Representation of big and small creditors interests
  5. Assessment of debtors' solvency
  6. Debt recovery

Successful Cases and Projects


Balticlaw team identified harmful contracts for B JSC “GKF”, has initiated claims for more than EUR 1 500 000,00.

B JSC “Sanforma”

- After the legal analysis of the bankruptcy of B JSC “Sanforma”, almost EUR 200 000,00 of damage from the former director and accountant of B JSC “Sanforma” for the damage done to the company was found and successfully settled.

B JSC “Sardegas”

Contradicted promissory notes worth more than EUR 700 000,00 illegally issued by shareholders of B JSC “Sardegas”.

B PC “Lithuanian shipping company”

Balticlaw team represented the bankruptcy administrator for the recovery of debts of one of the largest state-owned companies B PC “Lithuanian shipping company” from foreign and Lithuanian individuals and legal persons.

B JSC “Meliovesta”

Contradicted contracts of assignment of the right of claim, which were signed just before bankruptcy proceedings of B JSC “Meliovesta”. Therefore, the creditors of the bankrupting company were returned more than EUR 136 000,00.


Other services


Winning battles for our clients. We are sharp and confident in sensitive and complex cases. We are ready.

Intelectual property

Creativity and legality comes first. You create unique ideas. We create safe environment for your ideas.


At the cutting edge of your corporate needs. We provide professional, innovative and timely solutions for your business.

All service



+370 5 263 9000

Gedimino avenue 32, Vilnius 01104, Lithuania


+370 4 6314 955

Ligoninės str. 13, Klaipėda 92131, Lithuania