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TGS Baltic Assists IUVO Group on Application for Credit Intermediary Authorization

TGS Baltic Assists IUVO Group on Application for Credit Intermediary Authorization

Estonia
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TGS Baltic has advised Bulgarian crowdfunding platform IUVO on its obtaining of credit intermediary authorization from the Estonian Financial Supervision Authority.

According to TGS Baltic, "pursuant to the act passed by the Parliament (Riigikogu) on February 18, 2015, creditors and credit intermediaries are subject to supervision by the Estonian FSA." The firm reports that "IUVO is the first online credit market in Estonia to offer products from the Balkan countries, more precisely from Bulgaria. The services of IUVO are used by over thousand investors from 35 different countries all over the world and the total amount of loans listed is currently over 18 million euros."

The firm's team was led by Partner Marko Kairjak, working with Associates Nikita Divissenko, Elina Varendi, and Sille Rastas.

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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

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