Since the outbreak of war in Ukraine, the world faces an ever-increasing number of restrictive measures and sanctions introduced in various jurisdictions. While the global sanctions landscape has been long established, it has developed rapidly after February 24, 2022.
Moldova: Changes to the Extended Confiscation Regime
In the context of signing the Association Agreement with the European Union on June 27, 2014, the Moldovan legislation underwent fundamental changes aimed at harmonizing the domestic provisions with those of the European Union.
Serbia: White-Collar Crime
White-collar crime is a term first coined by sociologist Edwin Sutherland in 1949 who defined it as “a crime committed by a respectable and high-social-status person during the profession.” Prior to Sutherland’s introduction of the concept of white-collar crime, the upper classes of society were thought to be incapable of engaging in criminal activity.
North Macedonia: An Overview of Companies’ and Authorized Persons’ Main Criminal Responsibilities
White-collar crime has mainly been regulated by the Macedonian Criminal Code (“Code”) from 2004. Certain areas of responsibility that may render authorized persons criminally liable are also stipulated by other laws. We will focus on the main rules on white-collar crime provided by the Code, and certain liabilities provided by the Company Law that may trigger criminal responsibility for shareholders.
Romania: Better Safe Than Sorry – Precautionary Measures in Criminal Proceedings
Serious crimes, such as tax evasion, corruption offenses, or money laundering provoke serious responses from law enforcement authorities. When such offenses are committed, the law provides for compulsory precautionary measures to be taken against the assets of the offenders, at any stage of the criminal proceedings.
Poland: The Why, the Who, and the What of White-Collar Crime
Poland is on the verge of implementing the long-awaited new rules on corporate liability for white-collar crimes. This is the second such attempt after an initial legislative proposal was flushed down the drain, only two years ago, amid vehemently critical reviews from entrepreneurs and business associations right across the country.
Slovenia: The Abuse of Position or Trust in the Business Activity of a Single-Member LLC
This article provides a brief review of the case law regarding the abuse of a position or trust in the business activity of a single-member limited liability company (LLC) in Slovenia, which is incriminated under Article 240 of the Criminal Code of the Republic of Slovenia (CC).
Latvia: The Problem with the Current Application of Sanctions
Sanctions are currently relevant as a foreign policy tool and as an institution of law. For Latvia, as a border state with Russia and Belarus, the monitoring and enforcement of restrictions imposed by the sanctions are particularly relevant.
Lithuania: The Law on Protection of Whistleblowers
The development of the regulation on whistleblower protection in Lithuania started prior to the Directive (EU) 2019/1937 (Directive) coming into force. The first edition of the Law on Protection of Whistleblowers of the Republic of Lithuania (the Law) was passed by the parliament on November 28, 2017, set to enter into force on January 1, 2019. This took place mainly because of OECD insistence on the adoption of the Law prior to Lithuania’s accession to the OECD.
Estonia: Developments in Corporate Criminal Liability
White-Collar Crime is commonly thought of as something only a natural person can be held liable for. Although this might be the case in some jurisdictions, it does not apply in Estonia. The Estonian legal system allows companies to be held criminally liable alongside or separately from their representatives.
Know Your Lawyer: Eugenija Sutkiene of TGS Baltic
An in-depth look at Eugenija Sutkiene of TGS Baltic covering her career path, education, and top projects as a lawyer as well as a few insights about her as a manager at work and as a person outside the office.
The FDI Clearance Check – A Mandatory Check Box for All Lithuania-Related M&A Transactions?
Lithuania had the rules regarding FDI control in place before Regulation (EU) 2019/452 establishing a framework for the screening of foreign direct investments into the Union of March 19, 2019, was adopted. However, the regulation has contributed to a speedier increase in the awareness and development of FDI screening.
The Estonian Approach to Foreign Direct Investment Control
On May 1, 2023, the Foreign Investment Reliability Assessment Act, currently under adoption by the Estonian Parliament, will likely enter into force. Looking at the European Union as a whole, the push towards more supervision over foreign investors is not novel. What is new, is the Estonian approach to it and why this approach was taken.
New Exclusion Grounds in Latvian Procurements: Fair Play?
As of January 1, 2023, new rules regulating exclusion grounds will be applicable in Latvian procurements. This comes after the Latvian Competition Council discovered a bid-rigging scheme in the construction sector involving almost all of the largest Latvian construction companies. Notably, the period of exclusion will be extended, and the commencement date will be brought forward.
Tech Developments Driving Legal Evolution in Estonia
Considering the market size, Estonia sits at the forefront of CEELM’s technology deal rankings, with many of those deals involving a high degree of legal innovation. Magnusson Partner Elvira Tulvik, Fort Legal Partner Merit Lind, Hedman Law Firm Managing Partner Merlin Seeman, and Nove Head of IT and Cybersecurity Sten Tikerpe share their most innovative recent projects and pinpoint what makes the country a technology powerhouse.
Commercial Real Estate in Latvia
Latvia’s commercial real estate market saw a high volume of transactions in the past few years, involving shopping centers, stores, offices, and other types of properties. Cobalt Managing Partner Dace Silava-Tomsone, Ellex Klavins Partner Ilga Gudrenika-Krebs, and BDO Law Head of Legal Raivis Leimanis chart the market’s performance in a foggy 2022.
Life Sciences in Lithuania
The life sciences industry is a rapidly growing market around the world and appears to have special importance in Lithuania. TGS Baltic Partner Dalia Tamasauskaite-Ziliene and Glimstedt Partner Ausra Maliauskaite-Embrekte explore the key developments in the field and the main drivers behind them.
Making The Workplace Work
The past two years have brought about tectonic shifts across all industries, business sectors, and economies. Adapting to the ever-changing concept of a “new normal” became an everyday task, and law firms were no exception. Motieka & Audzevicius Partner Rokas Jankus, iLaw Lextal Managing Partner Tomas Bagdanskis, and Sorainen Managing Partner Laimonas Skibarka share how Baltic firms have managed to hold their own in these challenging times.