Vilnius Court blocks 1.3 million EUR insurance payment in Energesman dispute

The Vilnius Regional Court has applied interim protective measures in two cases involving a dispute between Energesman and VAATC. The court has prohibited the Lithuanian branch of BTA Baltic Insurance Company from paying approximately 1.3 million EUR in guarantee payments to VAATC until a final judicial decision is reached.

Energesman is contesting VAATC’s decision to terminate contracts, maintaining that the agreements remain valid. The company is seeking a court order to compel VAATC to honor both contracts and restore the previous status quo. Energesman claims its total losses currently amount to approximately 20 million EUR and may continue to rise.

Additionally, Energesman alleges that VAATC has failed to return company property located on the factory premises, valued at roughly 3 million EUR, and claims that some assets were removed from the site without prior notice. The legal process is expected to involve at least two court instances before a final ruling is issued.