Lithuania - National Report - World Arbitration Reporter (WAR) - 2nd Edition

Rimantas Daujotas has extensive experience in disputes arising under bilateral and multilateral investment treaties and high-value commercial agreements, having served as a consultant or representative to company claimants and respondents as well as government claimants and respondents. Rimantas is advising global energy companies as well as major law firms. In addition to arbitration work, Rimantas had worked on a number of high profile international litigations in the Baltics as well as the Court of Justice of the European Union and advised major companies on trade, investment, regulatory, and transactional matters. Rimantas is one of the leading individuals on international investment law and investor-state disputes, WTO law and international arbitration in the Baltics. Currently, Rimantas is a PhD scholar at Queen Mary University’s School of International Arbitration supervised by Prof. L. Mistelis. Rimantas was also invited as Visiting Scholar at Columbia Law School’s Center for International Commercial & Investment Arbitration and the National University of Singapore. Rimantas is also a prolific author on international law, international investment law and arbitration. Rimantas is the chief-editor of the Eurasia Arbitration Journal, lecturer of WTO law at KSU University, lecturer of international investment law and arbitration at Vilnius University and Senior Associate at “Motieka & Audzevicius” PLP.

PDF1.39 MB

$40.00

Description:

Originally from World Arbitration Reporter (WAR) - 2nd Edition

Preview Page

I. INTRODUCTION: ARBITRATION IN LITHUANIA—HISTORY AND INFRASTRUCTURE

A. History and Current Legislation on Arbitration

1. Historical evolution of law relating to arbitration

Over the last decade, Lithuania has developed a strong arbitration culture and is an attractive forum for the resolution of disputes as an established civil law jurisdiction positioned in the Baltic Sea region. It is also a forum which provides a neutral seat with a modern legislative framework, a supportive judiciary and world-standard infrastructure. While trade and shareholders disputes have traditionally been the types of disputes most commonly arbitrated, the increase in trade between Lithuania and countries in the Baltic region has resulted in arbitration increasingly becoming the method of choice for resolving disputes in matters related to energy, resources, oil and gas.

In recognition of the growth of international arbitration in the Baltic region, the Law on Commercial Arbitration was substantially amended in 2012.

The Republic of Lithuania is a unitary state, with a legal system modelled on the basis of the continental (civil) law tradition. Therefore, the main legal sources are statutory acts passed by the Parliament of Lithuania. The system of legal acts is hierarchical, topped with the Constitution of the Republic of Lithuania, followed by the statutes, while the secondary legislation passed by authorised state agencies (officials) is the most common form of legislation that carries the least authority (although binding, it cannot contradict legislative acts that are higher in hierarchical terms). International agreements and EU legal acts are higher in the legislative hierarchy than national statutes.