COBALT successfully represented and defended its client, UniCredit Leasing, in a civil case initiated on the basis of BUAB Egvilta claim regarding termination of an agreement and compensation of more than EUR 4.5 million in damages.
BUAB Egvilta and UniCredit Bank had entered into a credit agreement under which UniCredit Leasing had undertaken to finance construction of two residential buildings, while BUAB Egvilta had been obligated to repay the credit under the terms and conditions of the credit agreement.
The court decided that BUAB Egvilta did not prove all the necessary elements for civil liability to arise and for compensation of damages; therefore, it dismissed the claim and rendered a judgement in favour of COBALT’s client. In addition, the court ordered BUAB Egvilta to pay COBALT’s client litigation costs related to representation in the court.
UniCredit Leasing is part of UniCredit Leasing, which is Europe’s largest group of leasing services, and at the same time, it is part of UniCredit, one of the largest European banking groups. UniCredit Leasing provides not only the usual services of transport and standard industrial equipment leasing, but also complex leasing solutions.
COBALT legal advice included drafting procedural documents and representing the client in all pre-litigation procedures and throughout litigation. The team was led by Dr Paulius Markovas, COBALT Partner and Head of Bankruptcy and Restructuring Practice Group.