Belarus's Revera law firm has teamed up with Adamante Management to open the firm's Cyprus office.

On July 9, 2021, substantial amendments to Belarusian currency legislation entered into force. We will briefly review the key amendments.

Economic optimism in the face of adversity, the introduction of English law instruments, and some new potential for growth are the highlights in Belarus, according to Aleinikov & Partners Senior Partner Denis Aleinikov.

Aleinikov & Partners has advised Alfa-Bank on its acquisition of a 99.98% stake in Fransabank from Lebanon-based Fransabank SAL and Fransa Holding SAL.

Borovtsov and Salei has advised SEW-Eurodrive on the greenfield construction of a production facility on the territory of the Free Economic Zone Minsk.

Sorainen has promoted nine new Partners in three different countries. Estonia's Kaido Kunnapas and Katlin Krisak, Lithuania's Simonas Skukauskas, Monika Malisauskaite-Vaupsiene, Evaldas Dudonis, Kazimieras Karpickis, and Indre Sceponiene, and Belarus' Ann Laevskaya and Kirill Laptev have all joined the Sorainen partnership at the beginning of 2022.

Substantial changes for advocates, the economic impact of sanctions, and Russian banks and investors becoming more active as a result are the three topics at the top of Belarusian lawyers’ agendas, according to SBH Law Offices Partner Alexander Bondar.

There are a lot of legislative updates coming out of Belarus according to Revera Managing Partner Dmitry Arkhipenko, who highlights those on tax liability, company law, labor law, data protection, currency control, and the legal profession itself.

Belarusian firm SBH Law Offices has opened a new office in Cyprus. The firm now offers its services in Belarus, Ukraine, and Cyprus.

Sorainen has advised the Latvia-headquartered Eleving Group on Belarusian law aspects of its EUR 150 million bond issuance and private placement with professional investors.

With political issues and economic sanctions being an everyday norm, Belarus finds itself in a bit of a pickle, according to Borovtsov & Salei Partner Vassili Salei.

Orrick has advised One Peak Partners as one of the participants in PandaDoc's Series C financing round. Wilson Sonsini Goodrich & Rosati reportedly advised PandaDoc.

Revera has advised US-based The Games Fund on its USD 1 million investment in the Vandrouka Games studio.

According to Konstantin Mikhel, Managing Partner at Vlasova Mikhel & Partners, sanctions-burdened Belarus is slowly preparing for the change of its constitution. In addition, Mikhel reports that two sets of "pertinent amendments" have been passed recently – one to Company Law and the other to Advocacy Law.

Last week, Illia Salei of Borovtsov & Salei announced that he "was forced to leave Belarus where [he stands] to be prosecuted under Article 361 of Belarusian Criminal Code for the alleged appeals to actions aimed at harming the national security." He added: "I consider the case to be politically motivated." CEE Legal Matters spoke to Salei to learn more about the matter.

Sorainen has advised the Cajun Operating Company on franchising matters in Belarus.

According to Sergey Mashonsky, Senior Partner at Arzinger Law Offices in Belarus, his country is struggling to find economic balance amid the pandemic and the international sanctions. He reports that certain sectors, such as forestry, are doing well, while some others, such as the food packaging industry, have been negatively impacted in recent times.

CMS' Malgorzata Surdek-Janicka has been appointed as Vice-President of the International Court of Arbitration at the International Chamber of Commerce in Paris. Aside from Surdek-Janicka, 33 lawyers from CEE were appointed as members and alternate members of the court.