Sorainen Secures Supreme Court Ruling for W. P. Carey Fund’s Lithuanian Company in Rent Dispute with Kesko Senukai Lithuania

"Sorainen represented a Lithuanian company owned by U.S.-based W. P. Carey in a rent dispute with tenant Kesko Senukai Lithuania. The Supreme Court of Lithuania issued a final ruling rejecting Kesko Senukai’s refusal to pay EUR 1.2 million in indexed rent and its request to amend the lease, confirming there were no grounds to alter the contractual terms."

Sorainen represented a Lithuanian company owned by the U.S.-based W. P. Carey investment fund in a rent dispute against tenant Kesko Senukai Lithuania. The dispute concerned Kesko Senukai Lithuania’s refusal to pay EUR 1.2 million in indexed rent for a logistics centre leased from the client. Kesko Senukai argued that changes in the Lithuanian consumer price index justified withholding the payments and sought amendments to the lease, invoking allegedly unforeseeable changed circumstances. The Supreme Court of Lithuania rejected these arguments in full, confirming that the tenant’s refusal to pay the indexed rent was unfounded and that there were no grounds for altering the contractual terms. The decision is final and brings the case to a definitive close. Sorainen represented the Lithuanian company owned by the U.S.-based W. P. Carey investment fund with a team composed by: Partners Kestutis Svirinas and Kestutis Adamonis, Counsel Ieva Rimaviciene, and Senior Associate Domante Lunyte.

Sorainen Secures Supreme Court Ruling for W. P. Carey Fund’s Lithuanian Company in Rent Dispute with Kesko Senukai Lithuania

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads