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Cobalt Helps Estonian Ministry of Economic Affairs and Communications Obtain State Aid Authorization

Cobalt Helps Estonian Ministry of Economic Affairs and Communications Obtain State Aid Authorization

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Cobalt has helped the Estonian Ministry of Economic Affairs and Communications obtain authorization to provide State aid from the European Commission.

According to Cobalt, “The European Commission approved, under the EU State aid rules, a EUR 20 million Estonian scheme to compensate four international passenger ferry operators active on the routes connecting Estonia with Finland and Sweden for damages suffered due to the COVID-19 restrictions. The compensation will cover up to 80% of the damages suffered, calculated as the difference between the lost revenues and the savings in variable costs for the period during which the ferry operators were prevented from operating, compared to the same period in 2019.”

Cobalt’s team included Partner Elo Tamm and Senior Associate Mart Blondal.

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

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