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Sorainen Assists Latectus Develop Auction Procedure for Dale of Real Estate Portfolio

Sorainen Assists Latectus Develop Auction Procedure for Dale of Real Estate Portfolio

Latvia
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Sorainen is assisting Latectus, a subsidiary of AB SEB Bank, with structuring and developing an auction procedure for sale of its real estate portfolio in Latvia and Lithuania.

"At the first stage," according to Sorainen, the firm "prepared a memo on the legal framework and at the second stage we drafted auction rules and a template sale agreement."

According to Sorainen, "the matter is notable because as a private auction it is an unusual type of transaction for sale of real estate in the market. This matter covered not only legal aspects of the real estate sale transaction, but also other fields such as consumer protection, AML, and others."

The firm's team was led by Partner Lelde Laviņa, supported by Associates Andris Vilisons and Zane Akermane.

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