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TGS Baltic and Deloitte Advise CVI on Secured Mezzanine Bonds Transaction for SIA Riga Retail Park

TGS Baltic and Deloitte Legal have advised CVI Dom Maklerski on financing provided to SIA Riga Retail Park for the purposes of co-financing its acquisition of real property as well as the construction and development of the Saga Lifestyle and Shopping Centre in Stopini, a suburb of Riga, by Baltic real estate developer VPH UAB.

Cobalt Successful for PNB Banka Before Latvia's Constitutional Court

Cobalt has successfully represented AS PNB Banka before Latvia’s Constitutional Court in a case involving the fee calculation for credit institutions for financing the Financial and Capital Market Commission’s operations.

The Buzz in Latvia with Filips Klavins of Ellex Klavins

“Without question,” says Filips Klavins, Senior Partner at Ellex Klavins in Riga, “the biggest news was that last week [Friday, February 21] the Financial Action Task Force decided not to put Latvia on its Gray money-laundering List.” Latvia has been under monitoring by Moneyval and the FATF for potentially allowing space for conducting money laundering in Latvia. “The countries that find themselves on the Gray List are the likes of North Korea,” Klavins says. “Not the company you’d want to find yourself in.” Still, he smiles, “the country has been working really hard to avoid that, and we’ve done it.”

Ellex and Allen & Overy Advise on The Brink's Company's Acquisition of G4S

Ellex Klavins, working alongside Allen & Overy, has advised the Brink's Company on its USD 860 million acquisition of G4S plc, a UK-based global security and cash management company. G4S was reportedly advised by Eversheds Sutherland.

Ilyashev & Partners Law Firm successfully protected the interests of Ukrainian manufacturers and members of the Ukrainian Autoclaved Aerated Concrete Producers Association in an anti-dumping investigation related to imports of gas-concrete blocks originating in the Republic of Belarus.

Ellex Valiunas has advised Edenred SA on its acquisition of a 60% stake in Lithuania's EBV Finance. The acquisition also included EBV Finance subsidiaries in Bulgaria, Poland, Romania, Spain and Estonia. Penkov Markov & Partners advised Edenred in Bulgaria, as did Wardynski & Partners in Poland, Nestor Nestor Diculescu Kingston Petersen in Romania, and Uria Menendez in Spain.

The law on carriage of goods is a well-harmonized area of international law –  a streamlined set of rules that allows cargo owners and carriers to save valuable time and resources. While freight forwarders are an important element of every consignment it is surprising that many elements of forwarder’s liability are still regulated by national law.

On 30 January 2020 the Latvian Parliament adopted amendments to the CIT Law. The amendments have not been promulgated and, therefore, the exact wording of the adopted amendments is not available yet. The amendments will come into force on the next day after their promulgation, which most likely will happen already this month.

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