The system centralises administration of information on monetary fund restrictions, sends information to banks on restrictions orders and proportionally distributes funds to creditors. Previously a creditor who presented orders on funds restriction to a bank first, recovered his debt first.
Recent Posts
5 days ago
Tightening the recruitment of foreigners and additional requirements for employers
Amendments of the Law on the Legal Status of Foreigners of the Republic of Lithuania (“the Law“) entered into force on 1 July 2024. The…
November 1, 2024
Employee motivation: how to find a balance between the capabilities of the company and effective benefits
For company managers, employee motivation must be considered in several aspects, including the selection of effective incentives and accurately calculating the budget allocated to them.…
October 22, 2024
Cancellation of Legal Entities’ Liquidation Procedures: Now Without Court Intervention
In recent years, the Lithuanian Register of Legal Entities (hereinafter – the Register Center) intensified its monitoring of companies that are not conducting business or…