A Lithuanian court has ordered three companies that are managed by BaltCap to pay EUR 29,400 in legal costs to Interactive Brokers Ireland (formerly the Hungary-based Interactive Brokers Central Europe). This represents around one-seventh of the amount which the brokerage company had sought.
The ruling came from the Vilnius Regional Court after an appellate court had ruled in October that a lawsuit filed by Zvirgzdaiciu Energija, Nullus, and Poland’s EN Efficiency PL against Interactive Brokers, seeking nearly EUR 5.5 million in damages, could not be heard in Lithuania.
The case also includes claims against Sarunas Stepukonis, who is a former partner in the BaltCap Infrastructure Fund. That part of the case will be heard in Lithuania.
The regional court ruled last Monday that the BaltCap companies must pay Interactive Brokers EUR 29,400 in legal costs in equal instalments of EUR 9,800 apiece.
Interactive Brokers Ireland filed a request for an additional ruling on legal costs on November 7, arguing that the court had not addressed the issue of cost reimbursement in its original judgment.
Interactive Brokers had requested more than EUR 218,400 in legal costs, including nearly EUR 214,000 for lawyers’ fees and EUR 4,400 for translation services. The court, however, awarded EUR 25,000 and EUR 4,400 for these needs respectively.
The ruling can be appealed before the Court of Appeals within seven days if its being handed down.
Source: BNS
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