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Ellex Klavins has advised Duke I S.a.r.l. on the acquisition of 83.14% of the share capital of AS Valmieras Stikla Skiedra from the company’s controlling shareholder group. In addition to the equity transaction, VSS debt was restructured with Duke I S.a r.l becoming the second-largest secured creditor in place of Danske Bank A/S. Eversheds Sutherland advised VSS and Cobalt advised both Danske Bank and AS SEB Banka on their participation in the restructuring process of VSS.

TGS Baltic has advised the shareholders of Mailigen SIA, including private equity fund FlyCap, on the sale of email marketing automation platform company Mailigen SIA to international customer relationship management systems company Pipedrive Ireland Limited. Glimstedt reportedly advised Pipedrive Ireland on the deal.

On January 14, 2021, CEE Legal Matters reported that the Riga office of Eversheds Sutherland had represented Euromin Holdings Limited before the Court of Justice of the European Union in a proceeding with the Financial and Capital Market Commission. CEEIHM spoke with Girts Apsitis, Member of the Management Board at AS Ventspils Nafta, to learn more about the matter.

TGS Baltic has assisted Latvian warehousing and logistics park SIA Olaines Logistics Parks and holding company SIA Olaines Logistics with the former’s merger into the latter. SIA Olaines Logistics is owned by United Partners Property OU via UPP Olaines OU.

TGS Baltic has advised Latvian cars and light motor vehicles sales company SIA BRC's Estonian subsidiaries Balti Realiseerimiskeskus OU and BR Merger OU on their internal merger into SIA BRC.

Cobalt has successfully persuaded the Administrative Department of the Supreme Court Senate of Latvia to deny the appeal of the State Revenue Service of a decision by the District Administrative Court to revoking a decision by the State Revenue Service against the firm's client, SIA Lielzeltini.

“Currently, the main debate in Latvia is about when business will get back to normal and whether companies will be compensated for their lockdown-caused losses,” says Janis Zelmenis, Managing Partner at BDO Latvia, sighing that he expects the burden to eventually fall on the taxpayers’ shoulders.

In February, 2020, the Latvian authorities breathed a sigh of relief after the Financial Action Task Force voted against adding Latvia to the so-called “grey list” of jurisdictions with strategic anti-money laundering deficiencies. Prior to that, MONEYVAL, the permanent monitoring body of the Council of Europe entrusted with the task of assessing compliance with the principal international standards to counter money laundering, found that Latvian financial institutions had failed to introduce sufficient methods to identify suspicious funds primarily associated with clients from the former Soviet bloc countries.

In 2015, the word Cobalt took on a new meaning in the legal markets of Belarus, Estonia, Latvia, and Lithuania, when a new pan-Baltic law firm with that name opened its doors, immediately entrenched in the top tier of the region’s legal markets. That firm owes much of its success and reputation to the Managing Partner of its Lithuanian office and Chairman of the firm-wide Management Board, Irmantas Norkus.

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