CEE Legal Matters is proud to introduce the latest in our Comparative Guides series. This one focuses on Bribery & Corruption in CEE.

Contributed by Cobalt.

Cobalt has advised Creditreform Latvija on a multi-stage reorganization. 

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With 2024 behind us, we asked: Looking at transactional volumes for this year, would you say that 2024 was better or worse than what you originally expected it to be, and why?

The private healthcare sector across CEE has been expanding at a remarkable pace, reshaping the way people access and experience medical care.

Cobalt has successfully represented Swedish truck manufacturer Volvo Truck Corporation in a dispute initiated by Balta against Latvian truck conversion specialist Unitruck.

Cobalt has advised Stargate Hydrogen on its EUR 11 million series A funding round that saw the participation of Giga and UG Investments as well as SmartCap Green Fund. Ellex advised SmartCap.

Cobalt has advised European Energy on EUR 68 million financing to construct a 148 megawatt-peak solar farm in Latvia. Sorainen, Watson Farley & Williams, and Moalem Weitemeyer reportedly advised the lenders.

Cobalt has advised Coffee Address Holding on raising EUR 5 million in a private bond placement, to support its growth strategy, with Signet Bank as the arranger.

On August 1, 2024, the Artificial Intelligence Act (Regulation (EU) 2024/1689, AI Act) came into effect, establishing several regulations concerning artificial intelligence systems within the European Union. Although the regulation is already in force, its requirements will gradually come into effect: the first deadlines are set for February and August 2025, while most of the requirements will apply starting August 2, 2026.

Fort Legal has advised EfTEN Capital and its managed fund, Kinnisvarafond II AS, on the EUR 18.2 million sale of Kaunas Terminal to the PREF IV fund. Cobalt advised PREF IV.

Cobalt has advised Linstow Baltic on an agreement with Snabb to operate parking services at the Origo shopping center, Radisson Blu Latvija, Radisson Elizabete, and several open-air locations in central Riga.

Cobalt has advised Apollo Group's Estonian subsidiary Treeland on increasing its ownership in the Latvian restaurant chain Lido AS to 96% via share acquisition from KE Projekti.

Cobalt has advised German defense company Rheinmetall on a joint project with Lithuania’s EPSO-G Invest and Giraites Ginkluotes Gamykla to establish a 155-millimeter artillery ammunition manufacturing plant in Baisogala, Lithuania. TGS Baltic reportedly advised EPSO-G Invest. Sorainen reportedly advised Giraites Ginkluotes Gamykla.

Cobalt, working with Dentons, has advised AirBaltic on the sale of a minority stake to Lufthansa Group. Eversheds Sutherland Bitans advised Lufthansa Group.

Cobalt has advised SmartCap on launching a EUR 100 million Defense Fund.

KWKR and Cobalt have advised Luxembourg-based investment fund Radix Ventures on its investment in Naco Technologies.

Over the summer, numerous major employers in Lithuania had either terminated or tightened their hybrid work policies, mandating employees to be present in the office for at least three days per week. This shift is in line with global trends, particularly among technology companies, which have largely abandoned remote work arrangements. Since the pandemic ended, many companies have gradually moved their workforce back to the office, citing decreased productivity and employee engagement as primary reasons for this shift.