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On August 17, the Lithuanian Court of Appeal confirmed the unchanged decision of the Vilnius Regional Court of April 8, by which M. Marcinkevičius should indemnify Vilniaus Prekyba for LTL 81.25 million. damages in euros, 5%. interests and legal costs.
The court decision was notified by Vilniaus Prekyba, the case was heard in court hearings behind closed doors, so its material is not made public.
The Court of Appeal ruling came into effect immediately, but can be appealed to the Lithuanian Supreme Court within three months.
In May 2016, Vilniaus Prekyba for more than 400 million. Relvit acquired Akropolis and other real estate companies under the management or control of the Akropolis group, Akropolis Real Estate and the Nikola Mushanov project of Malta. Vilniaus Prekyba wanted to acquire the Akropolis shopping centers in 2015, but M. Marcinkevičius tried to suspend the transaction in court, explaining that he lacked information to help him decide by vote.
According to Vilniaus Prekyba, due to the actions of M. Marcinkevičius, the transaction was delayed for more than a year, during that time the market value of Akropolis increased significantly, so Vilniaus Prekyba had to pay 81.2 million LTL for them . higher than previously agreed.
M. Marcinkevičius also presented his proposal to acquire Akropolis, but Relvit shareholders did not accept it.
In December 2019, the Supreme Court of Lithuania ruled in a final order that M. Marcinkevičius had illegally and unfairly requested the suspension of the sale transaction of the Akropolis shopping centers. The SCL then annulled the decisions of the Vilnius Regional and Appeal Court which were unfavorable to Vilniaus Prekyba and ordered the court of first instance to re-examine the question of the damage caused by M. Marcinkevičius.
More than 10 percent. M. Marcinkevičius, who owns shares in several companies of the Vilniaus Prekyba Group, has been in conflict with Nerijus Numavičius, the group’s main shareholder, for several years, and the businessmen have directly and indirectly filed various lawsuits against each other in the Lithuanian courts. .
In the summer of 2015, M. Marcinkevičius publicly stated that when he resigned as director of the company that managed Akropolis, the changes began: dozens of holding companies began to be established to separate the operating companies from the shareholders of the group. M. Marcinkevičius assured that the “extremely aggressive” tax planning system was applied in the Vilniaus Prekyba Group.
Vilniaus Prekyba denies the allegations of tax evasion and claims that in this way M. Marcinkevičius seeks to aggressively withdraw from the group on favorable terms.
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