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Nove and Sorainen Successful in Estonian Supreme Court in Board Member Liability Dispute

Nove and Sorainen Successful in Estonian Supreme Court in Board Member Liability Dispute


Lawyers from the Nove and Sorainen law firms have successfully represented private individual Tarmo Tamm before the Estonian Supreme Court in a dispute involving the liability of a board member.

According to a Nove press release, "the dispute centered around the issue of the rights and opportunities of a shareholder in a private or public limited company being acquired (and thus deemed to be dissolved) upon merger of companies, in particular if the shareholder disagrees about the proposed size of shareholding in the acquiring company (the share exchange ratio)." According to Nove, "the complexity and fundamental significance of the matter is confirmed by the fact that the case was heard by the full panel of the Civil Chamber of the Supreme Court. As a result, the Supreme Court set aside the rulings of lower courts and gave in itself the final judgment on the matter."

The Nove team was led by Partner Veikko Puolakainen.

The Sorainen team was led by Partner Carri Gintner.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. 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 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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

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