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Cobalt Helps Estonian Ministry of Economic Affairs and Communications Obtain State Aid Authorization

Cobalt Helps Estonian Ministry of Economic Affairs and Communications Obtain State Aid Authorization

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Cobalt has helped the Estonian Ministry of Economic Affairs and Communications obtain authorization to provide State aid from the European Commission.

According to Cobalt, “The European Commission approved, under the EU State aid rules, a EUR 20 million Estonian scheme to compensate four international passenger ferry operators active on the routes connecting Estonia with Finland and Sweden for damages suffered due to the COVID-19 restrictions. The compensation will cover up to 80% of the damages suffered, calculated as the difference between the lost revenues and the savings in variable costs for the period during which the ferry operators were prevented from operating, compared to the same period in 2019.”

Cobalt’s team included Partner Elo Tamm and Senior Associate Mart Blondal.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.