SUCCESSFULLY DEFENDED THE CLIENT’S INTERESTS IN THE FIELD OF REAL ESTATE
PRIMUS Dispute Resolution team, led by Partner Marius Devyžis and Associate Partner Jonas Platelis, successfully defended the Client’s interests against unlawful claims of the other party in the field of real estate, which requested the court to oblige the Client to execute the preliminary contract of sale and purchase of property in kind.
The dispute arose from the performance of a preliminary contract, called an option contract, concluded between the parties, which agreed on the right to conclude a sale and purchase agreement for real estate and property rights (worth several million euros) within a time limit set in the contract. The parties took different positions regarding the legal classification of the contract they had concluded, whether as an option or a preliminary contract.
The Court of First Instance and Court of Appeal ofLithuania, which heard the case, agreed with the arguments put forward by the PRIMUS Dispute Resolution team and qualified the contract concluded by the parties as a preliminary contract for the future transfer of immovable property and property rights (Article 6.165 of the Civil code of Republic of Lithuania), the performance of which in kind is not legally enforceable. The Supreme Court of Lithuania dismissed the cassation appeal and allowed the Court of Appeal of Lithuania ruling to stand.
After the PIRMUS Dispute Resolution team proved that the contract concluded between the parties qualified as a preliminary contract for the transfer of immovable property and property rights, the Client’s interests were successfully defended against the unlawful claim to enforce the preliminary contract in kind, which led to the full dismissal of the claims.
Dispute Resolution team for this case: