Skrastins & Dzenis has successfully represented the insolvent PNB Banka in five arbitration proceedings at the London Court of International Arbitration, with the bank's claims against its shareholders amounting to about EUR 50 million.

Sorainen’s Latvian office has successfully represented Sia Prolux in challenging the negotiation procedure for the “Delivery and installation of kitchen equipment at the Jelgava state municipality educational institution Jelgava Technology Secondary School” at Meiju Road 9, Jelgava, organized by the Jelgava city municipality and held at the Procurement Monitoring Bureau.

Cobalt has successfully represented Food Union group company Rigas Piena Kombinats in a court dispute against a former employee regarding the invalidation of the termination notice and the recovery of unpaid wages.

Contributed by Ellex.

TGS Baltic has advised Remg Trade, Executo, and Future Farm on the sale of Selp to the Taaleri Group and Lords LB Asset Management. Sorainen reportedly advised the buyers.

Cobalt has advised real estate developer VPH on the development of a shopping complex on the site of the former Riga Dairy Factory, in the center of Riga, with a total investment of up to EUR 40 million.

Cobalt has successfully represented Eolus Vind subsidiary Pienava Wind before Latvia's Administrative Regional Court in a dispute against the Tukums Municipality for the approval of the construction of a 22-turbine wind farm.

Cobalt has advised Latvenergo AS on its issuance of EUR 100 million five-year green bonds with a fixed annual interest rate and a yield to maturity of 2.42%.

Triniti has advised Enersense on the exercise of its call option to increase its shareholding in the local Latvian affiliate Empower.

The word of the day in Latvia is resilience – that of the M&A market, capital markets, and overall business sectors, according to Eversheds Sutherland Partner Maris Vainovskis.

Ellex has advised the coordinating committee of ED&F Man Group’s senior creditors in refinancing and extending the group’s financial debt, with the transaction taking place simultaneously in over 30 jurisdictions.

Walless has advised Lumi Capital on its acquisition of the Indi Business Center in Riga.

CEE Legal Matters readers will likely be familiar with Patricia Gannon as one of the founders of Karanovic & Partners. Since her withdrawal from the firm (reported by CEE Legal Matters on September 21, 2020), Gannon ran her own "holistic strategic advisory business" (as reported on October 12, 2020) and, recently, she announced she is working on a new social media app for lawyers – Platforum 9. We caught up with her to learn more about her new project.

Cobalt has advised Hili Properties on its EUR 20 million acquisition of the holding company of the Riga shopping center. Sorainen reportedly advised the seller.

Former Senior Associate Jorens Jaunozols has been promoted to Partner at Sorainen. He heads the firm's Real Estate sector group in Latvia.

Sorainen has advised the Titanium Baltic Real Estate fund on acquiring Kesko Senukai’s stores in Vilnius, Lithuania, and Daugavpils, Latvia. Motieka & Audzevicius and Walless advised the sellers on the deal.

Cobalt has advised the Baltic Green Fund on its acquisition of a 7,000-hectare forest area from Isnaudas Forest Holding’s Latvian subsidiaries. Sorainen reportedly advised the seller. Delphi reportedly advised Baltic Green on the Swedish law-related aspects of the transaction.

Ellex has successfully defended the Domina shopping mall in Riga and Valleta shopping mall in Valmiera before the Latvian Constitutional Court against a claim brought by SIA Jysk Linnen’n Furniture.