The real estate (NT) development company "MG valda" finally lost its rights to a plot of state land in Vilnius, adjacent to the Karoliniškii landscape reserve.
The company failed to appeal against the unfavorable court decision canceling its contract with the state-run Lithuanian Radio and Television Center (Telecentrus) and the National Land Service (NŽT) regarding the lease of the plot.
On January 30, the Supreme Court of Lithuania refused to accept the complaint of MG Valdas.
"The selection panel of judges states that the arguments of the cassation appeal do not justify the improper interpretation and application of legal norms, which may have led to the adoption of an illegal procedural decision in the case," the court ruling reads.
"MG Valda" sought to appeal the decision made by the Court of Appeal last November, which satisfied the prosecutors' complaint and declared invalid the land lease agreement concluded between "MG Valdas" and NŽT in 2014 and the part of the 2015 agreement between "MG Valdas" and Telecentro regarding the radio antennas and the plot under them transfer of lease right.
About 7,26 hectares of land with buildings from Telecentro for more than 6 million. EUR "MG valda" purchased in September 2015. The company planned to develop a block of residential houses in the area at the intersection of Žvėryno, Karoliniškii and Viršuliškii.
Author: Mindaugas Samkus
