Lithuania

Applicable Law
 
Legal persons


Law no XIII-2221, Insolvency law for legal entities
XIII-2221 Lietuvos Respublikos juridinių asmenų nemokumo įstatymas (lrs.lt)  (in Lithuanian)
English versions
XIII-2221 Republic of Lithuania Law on Insolvency of Legal Persons (lrs.lt) (not up-to-date) 
XIV-450 Republic of Lithuania Law Amending Articles 1, 2, 4, 6, 9, 10, 15, 17, 22, 26, 27, 28, 31, 32, 33... (lrs.lt (amendments 29 June 2021not fully up-to-date)
 

Individuals


Law no XI-2000, Bankruptcy law for natural persons 
XI-2000 Lietuvos Respublikos fizinių asmenų bankroto įstatymas (lrs.lt) (in Lithuanian)
English versions
XI-2000 Law on Personal Bankruptcy (lrs.lt) (not up-to-date),
XIV-451 Republic of Lithuania Law Amending Articles 5, 6, 7, 8, 14, 21, 23, 25, 29, 30 and 31 of, and the... (lrs.lt) (Law amending the Law on Personal Bankruptcy as at 29 June 2021)
 

Labour code


XII-2603 Lietuvos Respublikos darbo kodekso patvirtinimo, įsigaliojimo ir įgyvendinimo įstatymas (lrs.lt) (in Lithuanian)
English version
XII-2603 Republic of Lithuania Law on the Approval, Entry into Force and Implementation of the Labour Code (lrs.lt) (not up-to-date) 
 

Guarantee fund


Law no XII-2604 on guarantees for employees in case of insolvency of their employers
XII-2604 Lietuvos Respublikos garantijų darbuotojams jų darbdaviui tapus nemokiam ir ilgalaikio darbo išmo... (lrs.lt) (in Lithuanian)
 


Other Regulations

A list of legal acts including implementing regulations can be found on the AVNT (The Authority of Audit, Accounting, Property Valuation and Insolvency Management) website here


Additional resource

How Lithuania has implemented Directive (EU) 2019/1023 (as part of the Joint Project between INSOL Europe and LexisPSL on the implementation analysis of the Directive (EU) 2019/1023 in the EU Member States - as at 17/05/2022)
Written by Frank HEEMANN at bnt attorneys in CEE (Lithuania) 
& INSOL Europe Country Coordinator



We are grateful to Frank HEEMANN at bnt attorneys in CEE (LITHUANIA) and INSOL Europe Country Coordinator for sharing this information.

Update: July 2023


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