On January 18, 2021, CEE Legal Matters reported that Cobalt had advised Practica Capital on its investment in Lithuanian start-up Biomatter Designs – part of the latter's EUR 500,000 investment round. CEEIHM spoke with Donatas Keras, Co-Founding Partner at Practica Capital to learn more about the matter.

Ellex Klavins and Ellex Valiunas have advised Livonia Partners on the sale of 100% of the shares in Santa Monica Networks to LMT in Latvia and Lithuania, respectively. Eversheds Sutherland advised the buyer.

Eversheds Sutherland Bitans has successfully represented the Latvian Privatization Agency and its subsidiaries in litigation against former Parex Bank shareholders. The agency was awarded EUR 124 million in damages and EUR 600,000 in legal expenses, after proceedings extending over ten years.

Sorainen has provided legal assistance to Latvian band Astro’n’out related to their composition of the anthem for the IIHF Ice Hockey World Championship 2021, which will be held in Riga, Latvia.

The Riga office of Sorainen has represented Danish furniture and home decor retailer JYSK before Latvia’s Constitutional Court, Competition Council, and Ministry of Economics regarding the government-imposed restrictions on commerce at shopping centers.

Cobalt has advised joint lead managers Luminor and Swedbank on Latvenergo AS’s EUR 50 million green seven-year maturity bonds issuance.

The Riga office of TGS Baltic, working with lead counsel Vinge, has advised the Lagercrantz Group AB on its acquisition of a 75% stake in Libra-Plast AS.

Walless has successfully helped Latvia's state-owned SIA Publisko Aktivu Parvalditajs Possessor recover EUR 1.9 million in damages in a lawsuit against Grindeks shareholders Kirovs Lipmans and Filips Lipmans.

Ellex Klavins has successfully represented the Ministry of Finance of the Republic of Latvia in legal proceedings brought by Latvian state companies against the former shareholders of AS Parex Banka, now doing business as AS Reverta.

Ellex Klavins and Latham & Watkins have advised Printful on a USD 130 million investment into the company by Bregal Sagemont, which resulted in a valuation of more than USD 1 billion for Printful. Goodwin Procter advised Bregal Sagemount.

Criminal Law expert Violeta Zeppa-Priedite has moved from TGS Baltic to Sorainen in Latvia.

TGS Baltic has advised the representatives of the European Central Bank on Latvian law matters related to the rejection of the appeals of ABLV Bank AS and its largest shareholders, Ernests Bernis, Olegs Fils, OF Holding SIA, and Cassandra Holding Company SIA, of the orders of the General Court of the European Union of May 6, 2019 (in ABLV Bank v ECB (Case C‑551/19 P) and in Bernis and Others v ECB (Case C‑552/19 P)), dismissing as inadmissible their actions for annulment of the ECB's February 23, 2018 declaration that ABLV Bank and its subsidiary, ABLV Bank Luxembourg SA, were failing or were likely to fail.

Glimstedt and Fort Legal have advised real estate company Vastint on the sale of office buildings in Vilnius and Riga to Eastnine for EUR 35.5 million. Ellex advised Eastnine.

Ellex has advised Eesti Energia on its entrance into a memorandum of understanding with Orsted for the development of a large-scale offshore wind farm and the movement towards delivering the first offshore wind farm in the Gulf of Riga.

Ellex has advised the Vilvi Group on the acquisition by its subsidiary AB Vilkyskiu Pienine of 70% of the qualifying holding of the SIA Baltic Dairy Board. Vilgerts advised the seller on the deal.

Cobalt has filed an Amicus Curiae brief on behalf of the Association of LGBT and Their Friends Mozaika in the Constitutional Court of Latvia in a case regarding the state fee applicable to testator’s same-sex partner.

On February 26, 2021, CEE Legal Matters reported that Eversheds Sutherland had advised Valmieras Stikla Skiedra on the sale of 83.14% of the share capital from the company’s controlling shareholder group to Duke I S.a.r.l. CEEIHM spoke with Ilze Saviele, Legal Counsel at VSS, to learn more about the sale. 

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