Taking Counsel: The company is losing money – should the director or management be held responsible?

Oct 14, 2009
By Marijus Sakalauskas

The new Civil Code of the Republic of Lithuania, which came into force on July 1, 2001, introduced a new institution – the investigation into a legal entity’s activities. Chapter X of the Civil Code enables members of a legal entity to request the court to appoint experts who would investigate whether the legal entity or legal entity’s managing bodies or their members acted in a proper way. Such a legal entity’s right is explained that members of a legal entity entrust their capital to a le ...

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