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Liability of Executives. Apply. Justify. Prove.


11 April 2019, 09:00 a.m. – 12:30 p.m. (registration starts at 08:30 a.m.)
Radisson Blu Royal Astorija Hotel, Didžioji g. 35/2, Vilnius

The workshop exploring the subtleties and problem areas of executive liability will be co-hosted by Law Firm COBALT and insurance brokerage firm UABDD Colemont draudimo brokeris.

According to 2019 data from the Department of Statistics, there are 105 093 economic operators now active in the Lithuanian market to whom executive liability issues may become relevant at any point. It is common knowledge that corporate executives are subject to higher standards of performance and liability, but what awaits them if their business decisions do not work out as intended?

The main topics covered at the workshop will include business disputes involving executive liability, liability of externally hired executives, and related advice. The conference will also discuss potential risks: what damages may a CEO be liable to compensate and how can damages be proven? How to avoid unpleasant surprises and prepare for this ahead of time?

The workshop will look at the reasons why company shareholders can bring a lawsuit against the CEO, how disputes relating to the activities of the CEO can impact on the business, what measures can be adopted to avoid interference with the ordinary business of the company.

The speakers will share economic insights and discuss in greater detail the business judgment rule from the point of view of business representatives. One of the key functions of the business judgment rule is to protect (the content of) business decisions adopted by a member of a management body against a judicial review.



Event moderator: Giedrius Abramavičius, Senior Associate at COBALT


08:30 – 09:00 Registration and welcome coffee

09:00 – 09:10 Welcoming speech

09:10 – 09:40 Business judgment rule: recommendations

Nerijus Datkūnas,corporate governance adviser, finance management professional, independent board member

09:40 – 10:10 Does a CEO face liability for loss-making deals? Case-law examples

Marius Inta, Head of Commercial Disputes Practice Group at COBALT

10:10 – 10:40 Challenges of quantifying damages resulting from the activities of a CEO

Romanas Skrebnevskis, CEO at UAB ROSK Consulting

10:40 – 11:00 Coffee break

11:00 – 11:30 When does a CEO has liability as an employee?

Jovita Valatkaitė, Senior Associate at COBALT

11:30 – 12:00 Value of a CEO’s signature and decisions

Karolis Blavaščiūnas, Deputy General Manager at UADBB Colemont draudimo brokeris

12:00 – 12:30 Q&A and discussion session. Workshop round-up.


TIME: 11 April 2019, 09:00 a.m. – 12:30 p.m. (registration starts at 08:30 a.m.)

VENUE: Radisson Blu Royal Astorija Hotel, Didžioji g. 35/2, Vilnius



Marius Inta is a Managing Associate and Head of Commercial Disputes Practice Group at COBALT Lithuania. He has over 16 years’ experience in Dispute Resolution and Conflict Management and focuses his practice on insurance disputes, represents clients in litigation matters involving compensation of damages, competition law and intellectual property law violations. Marius is a litigation lawyer with a long track record of acting for clients in courts of general jurisdiction and administrative courts and alternative dispute resolution (negotiation, arbitration, mediation).

Jovita Valatkaitė has over 8 years’ experience of legal practice in the fields of Employment and Corporate law. Apart from advising on general employment law matters, Jovita provides advice on non-competition of employees, protection of confidential information as well as the EU social security system. She also has extensive experience in migration matters, including residence permits, work permits, secondments and transfers of employees.

Nerijus Datkūnas is a corporate governance adviser, finance management professional, lecturer and independent board member. For the past 5 years, Nerijus has provided management consultations in the fields of strategy, management, corporate governance and finance. Recently he started cooperation with the team of corporate governance professionals at Proton B2B. Before joining this team, he was responsible for corporate finance of mobile operator Omnitel for 9 years, after previously working for 8 years as CFO at Utenos trikotažas. In addition, Nerijus serves as Chairman of the Board of AB Lietuvos paštas, Chairman of the Board of UAB Investicijų ir verslo garantijos and as an independent Board member of AB Amber Grid. Currently Nerijus is President and Chairman of the Board of the Association of Financial Analysts. Since 2015, he is a member of Baltic Corporate Governance Institute.

Romanas Skrebnevskis is the CEO of audit and consultancy firm UAB ROSK Consulting, with over 20 years’ audit, accounting and consultancy experience. Romanas draws 12 years’ experience from his time spent at the international audit firm Deloitte. His professional qualifications include: auditing of financial statements prepared in accordance with the International Financial Reporting Standards (IFRS) and Business Accounting Standards (BAS), changeover from BAS-based to IFRS-based corporate accounting systems, contract management, budgeting and cost control, internal control reviews, guidance to clients on planning and implementation of internal controls, and due diligence of financial statements for acquisitions. Romanas is a member of the BAS Committee under the Ministry of Finance.

Karolis Blavaščiūnas is Deputy General Manager at UADBB Colemont draudimo brokeris, with 13 years’ experience working in the financial sector. He improved his qualifications at the leading insurance organisation Lloyd’s of London. In cooperation with recognized executive liability insurance professionals and foreign insurers he develops executive liability insurance rules. He offers seminars on executive liability and advises major Lithuanian companies on contract formation and claims handling issues.



Please fill in the registration form to indicate your interest in attending the event. Registration is open until 9 April (Tuesday), 9:00 a.m.

Personal data provided in the registration form will be processed as indicated in the Data Privacy Notice. You must read the notice before providing your personal data.

The event is free of charge, but limited seats are available.

If you have any queries, please feel free to contact us by sending us an e-mail at or calling us at (8) 5 25 00800.

We look forward to seeing you at the conference!