Walless has helped Railsbank Group subsidiary UAB Payrnet obtain an electronic money institution license from the Bank of Lithuania.
The ongoing COVID-19 pandemic and various related restrictive measures have created an extraordinary human, business, and legal situation in Lithuania. The Energy sector (like all others) has become subject to various restrictions and challenges, including restrictions on the movement of workers, partner liquidity issues, reduced demand for energy resources, etc. As everywhere else in Europe, Lithuanian electricity market participants have faced a significant decrease in wholesale electricity market prices. Moreover, it is already clear that COVID-19 has negatively affected the international supply chain, as the energy market participants experience disruptions and delays in the performance of contracts and project delivery. In these extraordinary circumstances, industry players (including operating power plant operators, project developers, and so on) have a reasonable expectation that the government will take the effect of the ongoing international crisis into account if developers do not bid in time in auctions or miss their project deployment deadlines.
The pan-Baltics Triniti law firm has announced that it has merged with Lithuania's Jurex law firm, which bills itself as "the first and the only Lithuanian law firm specialized in business dispute resolution." The firm will continue to operate as Triniti in Estonia and Latvia, but rebrand as Triniti Jurex in Lithuania.