Abstract
Most notably, compatibility of public and private interests is a part of a sustainable civil and legal society. However, it is still a controversial issue, especially in the unique regulation of bank insolvency proceedings. On the one hand, in the modern legal scientific field it is argued that the state cannot protect only certain social groups or only certain specific interests of individuals. But on the other hand, the question arises whether only the interests of the individual are important to the state, or are there some exceptional collective, general public interests? Bank insolvency cases (e.g., bank “Snoras” and bank “Ūkio bankas”) subsequently have undergone dramatic changes in Lithuanian law system and it is still a very sensitive social issue. This paper tries to achieve analysis of the interference between the private and public interests which affect in the bank liquidation proceedings. The article considers under the private law a few resonance issues caused by public and private interaction and their consistency under the Lithuanian legal framework of bank liquidation proceedings. The basic object of the paper is the compatibility of private and public interests in bank liquidation proceedings under the Lithuanian law. The research problem is as follows: does the regulation in Lithuania proper balancing public and private interests under bank liquidation proceedings? While the definition of bank liquidation has never been provided in the scientific field of Lithuania, this paper inter alia suggests a term of bank liquidation. With the purpose to explore the actual meaning of legal norms and legislations as well as content and to analyze the literature, the systematic and document analyses, synthesis, comparative, critical thought methods were used. The statements are derived from analyses of scientific literature, relevant legislation, the practice of the courts and relevant reports. The paper is written from the perspective of the Lithuanian law.
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