The adoption of the Collateral Directive 2002/47/EC represents an important progress towards the implementation of a truly harmonized single financial market. The Lithuanian Financial Collateral Arrangements Act (the Law) has implemented the Directive 2002/47/EC in time. The Law establishes special regulation for financial securities given in transactions between „professional market participants“, between market participants and other companies, inclusive small and medium-sized enterprises. The Law applies to certain transactions on the financial markets and aims at stabilizing the financial markets. Essentially, the (...) Directive and the national implementing law ensure the enforceability of financial collateral arrangements and provide for rapid and non-formalistic enforcement of financial collateral procedures in insolvency cases. The realization of financial collaterals is made easier and cheaper. (shrink)

Lietuvos, kaip ir kitų Europos valstybių, teisės aktai numato bendrovės visuotinio akcininkų susirinkimo sprendimų teisėtumo užtikrinimo priemonę – tokių sprendimų pripažinimo negaliojančiais institutą. Civiliniame kodekse išvardijami teisiniai šio instituto taikymo pagrindai. Kita vertus, visuotinio akcininkų susirinkimo sprendimų pripažinimo negaliojančiais pagrindų sistemos skirtingose valstybėse skiriasi. Šiame straipsnyje siekiama pateikti bendrą įstatymo numatytų bendrovės visuotinio akcininkų susirinkimo sprendimų pripažinimo negaliojančiais pagrindų Lietuvos teisėje apžvalgą, minėtų pagrindų sistemą lyginant su užsienio valstybių teisiniu reglamentavimu.

As there is a gap of legal regulation of covenants not to compete in Lithuania, the legal doctrine and the case-law are analyzed in this article. It is recognized in judicial practice that labour laws are not applicable for the regulation of the covenants not to compete. So, the parties, an employer and employee, are free to make agreement on non-competition. There are some suggested principles how to make parties’ agreement on non-competition. Firstly, there should be disputed an adequate compensation (...) to the restrictions that would be made for an employee. Secondly, the restriction of competing should be precisely described, taking into account other issues, such as period of non-competing, employee’s qualification and duties, termination of agreement, etc. It is also proposed to supplement the Law on Competition of the Republic of Lithuania with the rules concerning the conclusion, execution or termination of these covenants. (shrink)

The article offers a concise view on the problems related to the Church and State relationship in Latvia. The article presents the author’s hypothesis that under the new circumstances when special legal provisions apply to traditional churches, it must discussed whether the rest of religious organizations could be classified as religious societies, operating in accordance with the Law on Societies and foundations. The author also holds an opinion that it is important for every country to follow the principle of separation (...) of church from state; however, it must be combined with religious freedom. Nevertheless, the article reveals that the task is difficult to follow in practice, in Latvia and in other EU member states alike. (shrink)

The validity (probability) of non-competition covenants which are typical for business transfer transactions is one of those issues on which discussions go in the international business transfer theory and practice. On one hand, such covenants help ensure the business interests of the buyer, on the other hand, by their nature, they can mean a restriction of competition, which is prohibited by law. This article, based on the analysis of the European Union, the Lithuanian and foreign legislation, case-law and doctrine, is (...) designed for a disclosure of the concept of non-competition covenants, which are concluded by the parties in the context of a business transfer as well as for the identification of the conditions of the validity (admissibility) of those covenants. (shrink)

The aim of this article is to analyse different goals of the competition law, which are established in European Union and Lithuania. EU Commission and the Court of Justice distinguish a number of goals of the competition law. Most commonly, mentioned goals of competition law are the following: the integration of the Internal Market, the protection of consumers, protection of the competitors, freedom of competition and economic efficiency. Different goals of competition law are analysed in this paper and relationship between (...) them is explained. Special attention is given to the analysis of protection of the consumers as one of the main objectives of competition law. While analysing protection of the consumers in competition law, a difference between the concept of consumer in competition law and consumer protection law is explained. The authors express a number of critical thoughts towards practice of the EU Commission and the Court of Justice so far, as there is a lack of consistency in evaluation of the protection of consumers’ rights in the context of the other objectives of competition law. Relevance of the present article is supported by the several facts such as revision of the competition law goals by the EU Commission and adoption of resolution “Concerning priority of the activities of the Lithuanian Competition Council” by the Lithuanian Competition Council that establishes main principles (priorities) applied while implementing competition policy in Lithuania. Setting out the main goals in Lithuanian competition law may have important practical consequences in the everyday activities of the Lithuanian national competition authority. (shrink)

With reference to the Dutch model, which has been adopted by the Lithuanian Civil Code, the possibility to renounce Investigation Proceedings in the Articles of Incorporation or shareholder agreements is analysed in this article. The mandatory nature of the Investigation Proceedings is derived from the provisions of the Code, mainly: from an active role of the court, typical to the cases with the element of public interest, from specific rules for protecting the public interest in the course of the Investigation (...) Proceedings, also taking into account statutory duties of managers, the scope of which may not be narrowed by SHA, and the fact, that the Investigation Proceedings is generally designated to be an instrument to safeguard the interests of minority shareholders against the abuse of their rights by the company, and, finally, acknowledging the extraordinary nature of remedies available in the Investigation Proceedings. (shrink)

Interim measures are procedural means that allow persons or States to have their rights preserved when a case is pending. Application of these measures especially in environmental cases is very important. In many of these cases (e.g. cases dealing with territorial planning, IPPC permits, environmental impact assessment, etc.) the claims deal with the protection of environment or its components (water, air, soil, etc.) as well as with the protection of public interest. Legal regulation of application of interim measures provided by (...) Lithuanian Law on Administrative Proceedings is not optimal. That is why the first part of the article is dedicated to the analysis of the possibilities and problems of application of interim measures in the administrative proceedings in Lithuania, paying special attention to environmental cases. The second part of the article reflects the findings of a workshop of the Association of European Administrative Judges on „Interim relief in environmental matters” held in Vilnius on 22 September 2011. It briefly describes various national rules on interim relief procedures, especially in the German and the French legislation, with an assessment from the German point of view. This part of the article focuses on provisional legal protection where a permit is challenged by a third party whose rights are allegedly afflicted. In such a constellation the rights of the plaintiff compete with the rights of the operator. The article concludes that, when deciding on the necessity of interim measures, it is vital to ensure the balance of interests: both by ensuring effective access to justice and by protecting the respondent and the third party (in environmental cases - usually the operator) from the violation of their rights and the damage caused by the abuse of the right to request interim measures. In such cases short time limits for procedural steps both of the parties and the court are not advisable and a prima facie prognosis on the outcome in the main proceedings meets the interests of the parties. (shrink)