Alcohol, EU – Baltic States, Financial Services, Legislation, Lithuania, Markets and Companies

For this reason, the plaintiff's demand to adjudge the indirect financial damage is ungrounded.

This decision was accepted on May 17 by the Arbitrage Court which had been investigating the lawsuit against the Government of the Republic of Lithuania according to the United Nations International Trade Law Commission (UNICITRAL) rules of arbitrage.

"This is the third victory of the Republic of Lithuania because the other countries with similar lawsuits ended up with the loss of EUR 100 million", says PM Algirdas Butkevicius.

The decision of the Arbitrage Court is based on the international bilateral contract of the security of investments of Lithuania and Italy. Lithuania has signed over 50 similar contracts which guarantee the safety of investments of Lithuania and other countries.

In this issue Lithuania was represented by the State Property Fund, whereas the interests were defended by the consortium of the lawyers' offices LAWIN and Hughes Hubbard & Reed LLP.