Cobalt has advised Tallinn's Creative Hub on public procurement proceedings for the design and maintenance of a reconstructed building as a center for cultural exports and the creative economy.
Cobalt Represents Hundipea in Disputes Related to Paljassaare Port
Cobalt has represented Hundipea in multiple disputes related to the Paljassaare port and related water area before the Estonian Transport Administration, the Ministry of Economic Affairs and Communications, and the Administrative Court.
Cobalt Advises Estonian Transport Administration on Procurement for Sindi-Lodja Bridge
Cobalt has advised the Estonian Transport Administration on the procurement procedure for the design and construction of the Sindi-Lodja Bridge on the Reiu River.
Cobalt and Ellex Advise on Amber Beverage Group EUR 30 Million Bond Issuance
Cobalt has advised the Amber Beverage Group on its EUR 30 million issuance of four-year senior secured bonds with Signet Bank as the arranger. Ellex was the collateral agent on the issuance.
Crypto-Asset Markets to Be Subject to EU-wide Regulation at Last
On 20 April, the European Parliament endorsed two regulations which will fundamentally change the crypto-asset market landscape in the EU and potentially beyond: the Regulation for Markets in Crypto-assets (MiCA) and the recast version of the Transfer of Funds Regulation (TFR recast). As a forerunner in regulating crypto business, Estonia has had local crypto laws in place since 2017, however, MiCA and TFR recast will be directly applicable in the EU and will replace the respective local legislation.
Tax Changes Pursued by the New Government
Following the general election, the new coalition government has committed to balancing the state budget and consequently revealed many intended taxation changes. While these ideas are not yet set in stone, here are the key changes that could be expected based on what has been communicated.
CEELM Deal of the Year Awards Banquet: And the Winner Is...
On the evening of April 25, 2023, the Deal of the Year Awards Banquet brought together, under the same roof, top-tier lawyers from Central and Eastern Europe's leading law firms and ILFs active in the region in Istanbul.
Sorainen and Cobalt Advise on Sale of Hohle to HellermannTyton
Sorainen has advised Lagrotte and the Net Systems Group on selling Hohle to HellermannTyton. Cobalt advised the buyer.
Cobalt Advises Pakrineeme Sadama on Sale of LNG Quay to Estonian State
Cobalt has advised Pakrineeme Sadama on selling its liquefied natural gas loading quay in Paldiski – together with the related infrastructure and port property – to the Estonian Stockpiling Agency for a total transaction value of EUR 31.5 million.
Latvian Constitutional Court: Absence of a Mechanism for Setting aside of Arbitral Awards Violates the Rights to a Fair Trial
On February 24, 2023, the Latvian Constitutional Court issued a long-awaited Judgement in case 2022-03-01 confirming that the current control mechanism over arbitration in Latvia is incomplete and unconstitutional. This means that the government will now be required to introduce a procedure for setting aside arbitral awards made by tribunals seated in Latvia.
Cobalt Successfully Represents the Suislepp Family Against False Allegations in Media
Cobalt has successfully represented the interests of the Suislepp family against false allegations published in Postimees and Louna-Eesti Postimees relating to Ilvi Suislepp's tenure as a school principal.
Cobalt Advises BayWa and EdgeCap Partners on Investment in Roofit.Solar
Cobalt has advised BayWa r.e. Energy Ventures and EdgeCap Partners on leading the EUR 6.45 million investment round into Roofit.Solar.
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.
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.
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.
The CEE Winter Shutdown
With numerous reports of energy-related business shutdowns, we reached out to local experts across CEE to understand what different markets have been dealing with, in terms of work and production stoppages, and look into the broader impact.
Cobalt Advises on Sale of SBS Group to Arkance
Cobalt has advised the shareholder of the SBS Group on the sale of the company to Monnoyeur subsidiary Arkance.