AVERUS has successfully represented the interest of UAB “Rietavo veterinarinė sanitarija” in the case against BAB “Ūkio bankas” regarding provision of financial factoring services. BAB “Ūkio bankas” requested reimbursement of a part of the funds which it has paid out to the client under the factoring agreement. The basis for such claim was predetermined by an ambiguous clause in the contract which was common in almost all factoring agreements of the bank. The court case pertains to peculiarities of factoring regulations, construction of the factoring agreement, actual performance under the contract by the parties as well as factoring market practice and internal procedure of the bank. The court of first instance has supported the arguments presented by AVERUS and rejected the claim in its entirety.
The team consisted of partner Povilas Karlonas and senior associate Eglė Valiulienė.