A Lithuanian company has been liquidated following a bankruptcy declaration that accused it of intentional misconduct, leaving behind debts totaling nearly 3.5 million euros. The court accepted the insolvency administrator's request, citing that the company engaged in financially disadvantageous contracts and demonstrated a lack of proper bookkeeping. Evidence suggested that the company's previous director, Marekas Mikša, made poor decisions leading to its financial collapse.

The Vilnius District Court dated February 6, 2023, verified claims that Marekas Mikša's actions or inaction directly resulted in the company's insolvency. It was noted that the conduct of the former director showed a significant lack of responsibility and caution with the company's financial dealings. As a result of these findings, the court's ruling indicates that the bankruptcy was not an accident but rather a deliberate act.

The company, which had plans to reconstruct an unfinished apartment building on Vanagupės street, had previously declared ambitions for business expansion. However, the financial mismanagement raised concerns among creditors and stakeholders. The ruling provides a critical precedent regarding accountability for financial practices in corporate entities, particularly for directors and their fiduciary responsibilities under Lithuanian law.