Although Lithuania no longer has a national airline, charter companies are popular in the market, especially during holiday periods. Although the Lithuanian aviation industry was heavily affected by the COVID-19 pandemic, no charter company has gone bankrupt. In fact, just recently in spring 2024, one charter company undergoing restructuring finished restructuring procedures earlier than planned and successfully continues its operations from Lithuania.

In The Corner Office, we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With managing firm clients being a critical aspect of firms’ operations, we asked: What are the three most important elements when onboarding a new client?

Walless has advised Eika Asset Management on the establishment of the Eika Co-Living fund.

Ellex has advised Ergo International on the acquisition of ADB Gjensidige from Gjensidige Forsikring ASA.

TGS Baltic has advised AB Agathum on its EUR 2 million bond issuance and listing on the Nasdaq Vilnius Baltic First North market in Lithuania and Latvia.

Cobalt has advised BaltCap on its investment in Fitekin and Onea software platforms of the Unifiedpost Group.

TGS Baltic has advised Civinity on a private placement of an issue of bonds with a nominal value of EUR 5.7 million.

The Baltic region, comprising Lithuania, Latvia, and Estonia, boasts an emerging public capital market facilitated by the unified securities trading platform – the Nasdaq Baltic Stock Exchange.

Dentons has advised the Republic of Lithuania on its EUR 1 billion bond issuance. Reportedly, TGS Baltic advised the Republic of Lithuania as well while Freshfields Bruckhaus Deringer and Sorainen advised the underwriters.

Articles 13 and 14, along with other provisions of the EU General Data Protection Regulation (the GDPR), require businesses to provide individuals with comprehensive information about the processing of their personal data.

Walless has successfully represented Elektrum Lietuva before the Supreme Court of Lithuania.

Contributed by WALLESS.

TGS Baltic has advised Rulonas on its acquisition of IMS Baltic companies from Metal Service Group Holding. Widen Legal reportedly advised the sellers.

Cobalt has advised IISUTIB Raft Capital Baltic Equity Fund on raising EUR 50 million in investments.

On April 24, 2024, the European Parliament adopted a resolution for a directive aimed at improving working conditions on platforms. This is a significant step towards addressing the needs of platform workers, such as 'Bolt' and 'Wolt' couriers, throughout the European Union.

For our Checking In feature, we reach out to partners and heads of practice across CEE to learn how specific practice areas are faring in their jurisdictions. For this piece, we asked firm Labor experts:  Have whistleblowing regulations been implemented in your jurisdiction and would you advise companies to use an external solution or an in-house one? Why?

Across Europe, defense sectors are experiencing significant transformations and budgetary escalations, driven by a need for enhanced military readiness and modernization. Avellum Partner Andriy Romanchuk, Cobalt Partner Deividas Soloveicik, Nagy es Trocsanyi Partner Gyorgy Kiszely, and Tuca Zbarcea & Asociatii Partner Serban Paslaru take a closer look at defense spending in their respective countries.

Averus has advised sellers Arunas Suika and Renata Suikiene on their sale of VS Fitness – operating eight fitness clubs in Lithuania – to Gym Plius. Ellex Valiunas reportedly advised the buyer. Estonian investment bank LHV financed the transaction.