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Sorainen Latvia Advises Folla Maritime Service in Negotiations Over Shipbuilding Contract

Sorainen Latvia Advises Folla Maritime Service in Negotiations Over Shipbuilding Contract


Sorainen has successfully represented Norwegian shipbuilding company Folla Maritime Service in negotiations with Rigas Kugu Buvetava (Riga Shipyard) regarding execution of a shipbuilding contract under Latvian law.

According to Sorainen, "we provided legal advice on further action regarding delay in execution by Riga Shipyard of its obligations under the contract, as well as representing the client in negotiations that resulted in agreement on the procedure for completion of works and obtaining additional bank guarantees. The matter is ongoing until the shipbuilding works are completed later this year."

The firm's team consisted of Sorainen Partner Agris Repss and Senior Associate Valts Nerets.

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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.

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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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