Lithuania: bnt restructuring team advising hospitality and hotel group

bnt attorneys in CEE is supporting a group of companies of French origin in the restructuring of a Lithuanian business partner.

The bnt insolvency and restructuring team led by cross-border insolvency specialist and bnt partner Frank Heemann has been advising the Polish service company of this France-based giant and global leader in the augmented hospitality and hotel business field.

The Lithuanian team of bnt attorneys in CEE has been consulting this client from the very early stages of the intended restructuring of the Lithuanian business partner. Work includes legal, pragmatic and tactical advice relating to the long-standing contractual relationship between this client and its group companies with a Lithuanian business partner and the franchisee of one of the client’s well-known brands. The franchisee is facing financial distress and has therefore commenced restructuring proceedings.

The procedure is novel and challenging because it was initiated shortly before the entry into force on 1.1.2020 of the new Lithuanian law on Corporate Insolvencies.

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