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Cobalt Advises AS Baltika on Successful Reorganization Proceedings

Cobalt Advises AS Baltika on Successful Reorganization Proceedings

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Cobalt has advised AS Baltika on the reorganization proceedings that were approved by the court.

According to Baltika’s CEO Flavio Perini, "[we] now have the support of banks, investors, creditors, and the court to quickly implement their turnaround plan and Baltika is and will also remain in the future part of the Estonian economy, and [we] will gather all [our] strength to make this company profitable again."

The Baltika Group is a Baltics-based clothing company that owns 79 stores in Estonia and neighboring countries and employs 495 people.

Cobalt's team included Managing Partner Jaanus Mody and Senior Associate Annika Jaanson.

Editor's Note: On August 31, 2020, Cobalt announced that AS Baltika's reorganization plan had entered into force on August 26, 2020. According to Cobalt, “the entry into force of Baltika's reorganization plan means that approximately 500 jobs have been saved in the Baltics (the vast majority of them in Estonia). About 150 partners can continue cooperating with Baltika. A company that has made a great social contribution and has a remarkable heritage lives on.”

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

More information on Cobalt can be found at www.cobalt.legal

All News about Cobalt can be found here.


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