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Tvins and ZRG Advise on Easy Debt Service Acquisition of Loan Portfolio

Tvins and ZRG Advise on Easy Debt Service Acquisition of Loan Portfolio

Lithuania
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Tvins has advised Easy Debt Service, a Lithuanian debt management company, on a EUR 95 million loan portfolio purchase from the bankruptcy administrator of four credit unions: Vilniaus Taupomoji Kasa, Nacionaline Kredito Unija, Laikinosios Sostines Kreditas, and Svyturio Taupomoji Kasa. The seller was represented by ZRG.

Easy Debt Service, which launched its services in 2016, is specialized in medium and large debt recovery, as well as other administrative and legal services.

“The deal is important as the loan portfolio was very complex,” Tvins Partner Vytautas Senavicius, who led his firm's team on the deal, commented. “It included business loans, consumer credit, consumer credit backed by collaterals/mortgage/ guarantees, business loans backed by collaterals/mortgage/ guarantees. The buyer took over a number of disputes in the court as well. Our assignment included the legal analysis of portfolio, consultations in every step of the purchase procedure, drafting and reviewing necessary documents for completing this deal; the project took more than seven months.”

ZRG’s team included Partners Marius Rindinas and Skomantas Grigas.