New law on company mortgages

  • 2012-03-28
  • By Donata Pundinaite, Associate Lawyer
ECOVIS Miškinis, Kvainauskas ir partneriai advokatu kontoraThe new amendmets to Article 4.177 of the Lithuanian Civil Code will add requirements on a company mortgage (hypothec).  According to the new regulation, a company will be pledged as real estate. The main idea of this new regulation is that the pledge is not tied to a particular property at that particular time. The company will be able to dispose of its property despite the mortgage. There will be one specific condition: the value of the pledge should not decrease.On the other hand,  all new property ...
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