The promise of a return to normal, considerable public debt, a controversial WWII compensation ruling, AML-linked blockages, and a potential real estate bubble are the main discussion topics among lawyers in Latvia according to Reihmanis & Partners Partner Karlis Reihmanis.
On February 18, 2021, following a five-year preparation period, the Saeima – the parliament of the Republic of Latvia – adopted amendments to the country’s Advocacy Law, addressing, inter alia, the proper corporate form for law firms. Going forward, in Latvia, a law firm must either be a partnership (either general or limited) or a limited liability company. CEE Legal Matters spoke with several Latvian lawyers about the newly amended law.
The real estate market in all three Baltic States is closely related and, although the legal systems vary a bit, buyers face the same or similar issues. Although important details concerning the purchase of real estate are brought forth in the sale contract drawn up by a notary (in Estonia and Lithuania) or attorney at law (in Latvia), in practice various nuances still tend to be left unattended.
In my career, I have lived through four crises. In 1991, when I started a legal business, there was a total economic collapse, with a shortage of the most basic essential goods – no furniture or computers, or even proper light bulbs for the office. Then there was the ‘Russian’ crisis of 2000, a crisis of foreign currency and the ruble. The one of 2008-2010 followed. And now we have the COVID-19 pandemic – perhaps not so much an economic crisis as one arising from a climate of uncertainty.
Franchising may be an attractive proposition for many companies wishing to expand internationally. Take a look at this overview to discover the applicable franchise law in Latvia, covering the essentials for franchisors, the relevant areas of law, selected aspects such as fees, and dispute resolution and applicable law.
Regional periodical league tables ranking M&A activity through the lens of the law firms advising on the deals are often dominated by Baltic law firms, with the CEELM Index special issue of the CEE Legal Matters magazine reflecting the same trend. To better understand why that is so, we spoke with several Partners – from both Baltic firms and other CEE jurisdictions.
On April 22, 2021, CEE Legal Matters reported that TGS Baltic had advised the Evernord Real Estate Fund III, managed by Vilnius-based investment firm Evernord Asset Management, on its acquisition of a 65% stake in Riga's Novira Plaza business center. CEE In-House Matters spoke with Arnas Vedeckis, CFO and Member of the Board at Evernord, to learn more about the deal.
The global pandemic has impacted all markets, with subsequent ramifications for M&A. Investors are now seeking greater protection against general lock-downs and supply-chain disruptions, while governments aim to protect critical supplies and services by imposing new regulations on foreign investment in crucial or strategic industries.