Sorainen Lithuania has advised DNB Bank ASA, the largest financial services group in Norway, on the grant of a loan to Norwegian real estate development group Schage for the development of the Quadrum business center in Vilnius. According to Sorainen, "the total disclosed value of Schage’s investment in the project is EUR 100 million."
Lithuania is currently finalizing its internal debate on the transposition of Directive 2014/26/EU on the collective management of copyright and related rights and multi-territorial licensing of rights in musical works for online use in the internal market (the “Directive”), which will change the Law on Copyright and Related Rights of the Republic of Lithuania (the “Copyright Law”) and will have an enormous impact on all stakeholders: collecting societies, right holders, and users.
Glimstedt has advised UAB Marina Nida on its entrance into a deal with Carlson Rezidor, a top international hotel operator, to open a five-star Radisson Blu Hotel & Spa Nida Marina on the Curonian Spit. The hotel will overlook the Curonian Lagoon and is expected to open its doors by the end of 2019.
Sorainen has advised a subsidiary of Lords LB Special Fund I, a fund belonging to investment management company Lords LB Asset Management, on its conclusion of a hotel management contract with operator Carlson Rezidor regarding hotel opening and further activity in Vilnius under the Radisson RED name.
On July 15, 2016, CEELM reported that Primus represented the Lithuanian Football Federation (LFF) in an arbitration with a football club and its players involving sanctions the LFF had imposed following match-fixing-related investigations before the Court of Arbitration for Sport (CAS), based in Lausanne, Switzerland. We reached out to the President of the Lithuanian Football Federation Edvinas Eimontas to get his insight into the matter.
Sorainen has advised Betsson on its acquisition by its wholly-owned subsidiaries of gaming operator Losimu Strategine Grupe (LSG), which trades as TonyBet in Lithuania. LSG was advised by Tark Grunte Sutkiene on the deal, which is expected to close within a month. The initial acquisition consideration is EUR 4.0 million.
On July 21, 2016 CEELM reported that Fort had represented credit bureau UAB Creditinfo in a case before the Supreme Administrative Court involving the legality of using data published on Facebook to assess the creditworthiness of those who publish it. Creditinfo — which doesn’t have an in-house legal team — was advised by lawyer Anatolijus Kisielis, who we reached out to for comment.