Sorainen has advised the Modus Group on the merger of its UniPark brand with Parkdema, managed by the Energy and Infrastructure SME Fund of investment company Lords LB Asset Management. Lords was advised by Cobalt on the deal, which, following approval from the Lithuanian Competition Council, is expected in March 2018.
Cobalt had successfully represented and defended the German company Danpower in an extraordinary case against the Lithuanian Ministry of Energy. In ruling for Danpower, the Supreme Administrative Court of Lithuania held that the Ministry of Energy had illegally suspended the German company’s investments in a new bio-fuel plant in Vilnius.
A favorable tax system is viewed as one of the most significant incentives for foreign investment in a given country. According to this year’s World Bank’s and PwC Paying Taxes study, Lithuania ranks 27th globally in terms of the ease of paying taxes. It is indeed a high standing, ahead of other CEE countries such as Romania, Poland, Slovakia, and Hungary. We dare say the ranking accurately reflects the efficient operation of Lithuania’s tax system.
Sulija Partners Law Firm Vilnius has advised a subsidiary of aircraft leasing company AviaAM Leasing on the sale of an Airbus A321-211 aircraft from its fleet with an operating lease contract with Yamal Airlines to a subsidiary of GTLK Europe. GTLK Europe Ltd. was advised by DLA Piper’s London and Moscow offices.
Cobalt has represented the shareholders of UAB Ilsanta, a Lithuanian company installing and distributing medical devices and equipment, on the sale of 100% of the company’s shares to UAB ILS Holding. ILS Holding, which is part of the ZIA Valda investment company, was represented by Motieka & Audzevicius.