VTEK declares that G. Landsbergis did not break the law

The press release states that the inquiry was performed on the basis of the member of Seimas annual personal [family] property declarations in 2016 and 2017 featuring shares, however the private interest declaration did not indicate, in what company’s activities he participates.

The inquiry’s information shows that there is no data on G. Landsbergis in the Centre of Registers legal entities information system. It was found that in declarations to the State Tax Inspectorate, the member of Seimas specified shares belonging to the bankrupting Ūkio Bankas. After obtaining its shares in 2008, G. Landsbergis became a minor shareholder. In 2013, the Kaunas district court began bankruptcy proceedings for Ūkio Bankas and in July 2014, the company was found bankrupt and was to be liquidated.

Based on the banking law, with the court declaring bankruptcy proceedings on a bank, the administrator begins performing its functions and that authorisation for the bank’s organs (in this case, the shareholders’ meeting) is halted.

Based on the inquiry’s data, the VTEK believes that G. Landsbergis did not have to specify the shares of the bankrupting entity as one in whose activities he participates. VTEK believes that respective VPIDVTĮ requirements are directly linked to whether the declarer participates in the legal entity’s activities in enacting the rights and duties of a co-owner, can make decisions in respect to this legal entity, use other property and non-property rights. In this case, the VTEK does not have any data that G. Landsbergis participated in Ūkio Bankas activities since 2013. Since the beginning of bankruptcy proceedings to the legal entity, the rights of the shareholders’ meeting were transferred to the bankruptcy administrator.