COBALT participated in the first settlement agreement in respect of construction at the Lithuanian seaside

COBALT represented a developer in connection with the drafting and obtaining approval of the first settlement agreement in respect of construction at the Lithuanian seaside. The settlement agreement was approved by the Supreme Administrative Court of Lithuania at the beginning of February. This settlement agreement is the first out of five settlement agreements approved by the court which were initiated a year ago by the Government in conjunction with the seaside municipalities and developers concerned about the threat of disproportionate consequences. The subject-matter of the agreement is the land plot of the former sanatorium Eglė, located in Kęstučio street, and a recreational apartment building of about 8 000 sq. m to be constructed on the land plot.

The owner of the land plot was allowed to redesign the building and undertake construction works without dismantling the equipped underground portion of the building and without waiting for the special monument protection plan of the central part of Palanga, approved in 1999, to be replaced with a new special plan of cultural heritage protection. The owner of the land plot, in its turn, undertook to construct a building of smaller dimensions than it was planned at the beginning of 2008. The architectural design of the building permitted to be constructed by virtue of the settlement agreement was developed by architect G. Natkevičius and was coordinated in the course of drafting of the settlement agreement with the Department of Cultural Heritage, the municipality and other institutions.

COBALT drafted the settlement agreement, assisted in negotiations and represented the developer before the Supreme Administrative Court of Lithuania in connection with the approval of the settlement agreement.