4th and 5th of October 2017 in Casablanca, Morocco
In pursuit of solutions to the problem of unemployment and the flexibility of the labor market, Lithuania has endorsed a new Labor Code, which will come into force on July 1, 2017. The main objectives of the new legislation are to adapt the country’s laws to reflect progress in the market and to allow more liberal labor relations between employers and employees. The changes are intended to facilitate job creation, reduce the unemployment rate, ensure clarity in labor relations, and make the Lithuanian market more attractive to investors.
The Latvian and Lithuanian offices of Ellex have advised the Lithuanian investment company UAB Prosperus Strategic RE Fund on its acquisition of the 7250-square meter Mezciems shopping center in Riga and a 1,650 square-meter store in Vilnius. The Ecovis law firm advised the sellers on the Latvian sale.