On 19 January 2026 at 11 AM, the public defence of the doctoral dissertation by Justinas Jarusevičius (doctoral student of the Department of Private Law) will take place at the Faculty of Law of Vilnius University, in the Kazimieras Leonas Sapiega Auditorium (Room 302).
Title of the dissertation: “Business Decision Rule: Problematic Aspects”
ANNOTATION:
The dissertation examines the Business Judgment Rule – one of the key legal instruments limiting the civil liability of company directors and officers. The research aims to analyze the content, legal nature, and boundaries of this rule, to determine its place in contemporary corporate law, and to assess its significance in judicial practice. Using systematic, historical, and comparative methods, the study explores the jurisprudence of the United States, Germany, and Lithuania, evaluating whether the Business Judgment Rule can be regarded as a presumption or an independent judicial standard or review. The dissertation also discusses the genesis and objectives of this rule and the peculiarities of its reception in the Lithuanian legal system. Particular attention is devoted to the limits of managerial discretion, the criteria for judicial intervention in business decisions, and the application of diligence and good faith standards. The dissertation highlights practical challenges in evaluating directors’ decisions and offers proposals for improving judicial practice in this field. The findings demonstrate that the Business Judgment Rule plays an essential role in ensuring the balance between the independence of corporate management bodies and their accountability for decisions made, contributing to the development of corporate governance culture and the advancement of Lithuanian legal doctrine.
The dissertation was prepared at Vilnius University from 2013 to 2025.
Academic Consultant: Prof. Habil. Dr. Vytautas Nekrošius (Vilnius University)
DEFENCE BOARD:
Chairman – Prof. Habil. Dr. Gintaras Švedas (Vilnius University)
Members:
- Assoc. Prof. Dr. Vida Petrylaitė (Vilnius University)
- Prof. Dr. Haroldas Šinkūnas (Vilnius University)
- Prof. Habil. Dr. Joanna Studzińska (Kozminski University, Republic of Poland)
- Prof. Dr. Vigita Vėbraitė (Vilnius University)
Venue: Vilnius University, Faculty of Law, Kazimieras Leonas Sapiega Auditorium (Room 302), Saulėtekio av. 9, Vilnius, Lithuania.
The dissertation is available for review at the Library of Vilnius University and here.
The defence of dissertation can also be viewed remotely through this link.