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Practice areas:

Litigation and Arbitration, Taxation, Energy and Infrastructure Projects, Banking and Finance, Insurance

Career:

• Since May 2009 partner and head of the banking and finance practice group in the law firm Sutkiene, Pilkauskas & Partners (now TARK GRUNTE SUTKIENE)
• November 2008 – April 2009 member of the Board of the national electricity company LEO LT, AB
• Since 2006 partner in the law firm Sutkiene, Pilkauskas & Partners
• 2003-2008 head of the banking and finance practice group in the law firm Sutkiene, Pilkauskas & Partners
• 1999-2003 lawyer for the state enterprise State Property Fund

Education:

• 2000 Vilnius University, Faculty of Law, Lithuania (Diploma)
• He has attended a variety of courses and seminars on contract law and international commercial arbitration matters (2000-2009)

Publications:

• Business Disputes: Solutions // Verslo Žinios, 9 June 2006

B&F newsletter, spring 2011 - June 2011

Membership:

• Associate of The Chartered Institute of Arbitrators
• Correspondent of The International Arbitration Institute
• Lithuanian Bar Association

Languages:

Lithuanian, English, Russian

Experience:

• At the request of Hypo, one of the major banking groups in Germany, presented a legal analysis of possible implications related to the transfer of bad portfolio assets to AidA, a bad loan portfolio agency established by the German government (2010);
• Analysed financing documents of some significant borrowers at the request of SEB, one of the major Swedish banks, holding the largest loan portfolio in Lithuania (2010);
• Drafted the first standard operating agreement in Europe, under which the European Investment Bank (EIB) will implement the financial engineering measure JESSICA by extending the funds to Lithuanian banks for loans to residents for implementation of housing renovation programmes. The European Union will implement the JESSICA initiative according to the agreement originally drafted by the lawyers of our law firm (2010);
• Represented The Royal Bank of Scotland, one of the major banks in Europe, on loan restructuring and security for Indorama Group, a manufacturer of polyester products (2010);
• Analysed the possibilities of Barclays, one of the major international banks, for implementing the employee incentive scheme in Lithuania, by granting bonuses and shares to employees (including possible tax and social insurance implications) (2010);
• Representing Swedbank drafted a payment security agreement with a company under restructuring, where a financial collateral arrangement was incorporated (2009);
• Representing Swedbank drafted a share underwriting agreement for distribution of shares of a Lithuanian agricultural company (concern) (2009);
• Represented a subsidiary of a Belgian company engaged in trade in Belarus in recognition of a Belarusian arbitration award in Lithuania;
• Represented the largest foreign creditor SSB providing aircraft engine maintenance services in AB FlyLAL Lithuanian Airlines bankruptcy proceedings;
• Presented information on a possibility to restructure the existing corporate structure of a bank, a debt recovery possibility and taxation on loans and debt recovered under loan agreements (2009);
• Represented clients on issues of regulation of electricity activities and meeting requirements of the European Union law;
• Acted as the main legal adviser of the private investor UAB NDX energija in preparation and performance of the transaction of establishing the national electricity company LEO LT, AB (during the transaction a consolidation was made of the main Lithuanian electricity company LIETUVOS ENERGIJA and two distribution system operators Rytų skirstomieji tinklai and Vakarų skirstomieji tinklai; this transaction resulted in establishment of the company LEO LT, AB that will participate in construction of a new nuclear power station and an electricity bridge to Sweden). Provided consultations regarding separation of activities and other regulatory requirements set by the EU and national laws and regulations (2008);
• In cooperation with the law firm Clifford Chance, which is one of the leading law firms in the world, counselled international bank syndicates lead by J.P. Morgan Plc and ABN AMRO Bank on issues of syndicated loans and securities for obligations (2007–2008);
• Counselled UAB Ūkio Banko Investicinė Grupė in conclusion of the first ever investment agreement with the Republic of Belarus regarding an investment amount above USD 350 million;
• Represented DEPFA BANK plc with regard to long-term crediting to the Kaunas City Municipality (2007);
• Represented Danske Bank A/S in acquiring shareholding interest in Sampo Bank plc (2006);
• Provided consultations to a major international bank Euroclear Bank SA, providing the services of the clearing and settlement system and other related services, regarding implementation in Lithuania of Directive 98/26/EC of the European Parliament and of the Council on settlement finality in payment and securities settlement systems (2006).