Sorainen has advised BaltCap on its acquisition of a 70% stake in the Hansab Group. Cobalt advised Hansab's majority shareholders on the sale.

Cobalt has successfully represented the interests of Tukuma Auto in a dispute against the Road Transport Administration in Latvia regarding amendments to procurement agreements executed with Nordeka for the provision of public transport services by buses on regional route networks.

Former Baltic International Bank Management Board Member Maris Liguts has returned to private practice by joining the Riga office of Fort Legal as a Partner, starting May 2023.

Ellex has advised the Latvia-based companies of the Adven Group on joining the consolidated financing available to the Adven Group globally, secured by commercial pledges.

Cobalt has advised the Amber Beverage Group on its EUR 30 million issuance of four-year senior secured bonds with Signet Bank as the arranger. Ellex was the collateral agent on the issuance.

Sorainen has represented Latvian transport company AS Cata before the Administrative Court in a dispute over the right to conclude a public contract for passenger transport in the region of Vidzeme. 

Ellex has advised Eesti Gaas on its EUR 120 million acquisition of Gaso from Latvijas Gaze. KPMG Law advised the seller.

Former Senior Associates Marta Cera, Anete Dimitrovska, and Edvijs Zandars have been promoted to Associate Partners at Ellex in Latvia as of April 11, 2023.

Sorainen’s cloud-based legal practice management spin-off Crespect has received a EUR 227,000 innovative product development grant from the European Regional Development Fund and has also closed its EUR 605,000 seed investment round.

Sorainen has provided pro bono legal representation to Re:Baltica Center for Investigative Journalism journalist Inga Springe in harassment proceedings against Janis Sondars.

As Lexpo – The Legal Innovation Event returns in 2023 after a three-year hiatus, showcasing the latest trends in legal innovation in Continental Europe, CEELM spoke with Dentons Europe Director of Innovation and Member of Lexpo's Advisory Board Andrea Miskolczi to gain an insight into the current state of technology and innovation in CEE, and what the event's attendees have to look forward to.

On February 24, 2023, the Latvian Constitutional Court issued a long-awaited Judgement in case 2022-03-01 confirming that the current control mechanism over arbitration in Latvia is incomplete and unconstitutional. This means that the government will now be required to introduce a procedure for setting aside arbitral awards made by tribunals seated in Latvia.

On March 8, 2023, Eversheds Sutherland announced that Lagardere’s acquisition of the Costa Coffee Group’s Polish and Latvian subsidiaries (reported by CEE Legal Matters on October 7, 2021) had closed.

Walless has advised the Eco Baltia Group on its acquisition of Pilsetas Eko Serviss via its subsidiary Latvijas Zalais Punkts.

Sanctions are currently relevant as a foreign policy tool and as an institution of law. For Latvia, as a border state with Russia and Belarus, the monitoring and enforcement of restrictions imposed by the sanctions are particularly relevant.

As of January 1, 2023, new rules regulating exclusion grounds will be applicable in Latvian procurements. This comes after the Latvian Competition Council discovered a bid-rigging scheme in the construction sector involving almost all of the largest Latvian construction companies. Notably, the period of exclusion will be extended, and the commencement date will be brought forward.

Latvia’s commercial real estate market saw a high volume of transactions in the past few years, involving shopping centers, stores, offices, and other types of properties. Cobalt Managing Partner Dace Silava-Tomsone, Ellex Klavins Partner Ilga Gudrenika-Krebs, and BDO Law Head of Legal Raivis Leimanis chart the market’s performance in a foggy 2022. 

The past two years have brought about tectonic shifts across all industries, business sectors, and economies. Adapting to the ever-changing concept of a “new normal” became an everyday task, and law firms were no exception. Motieka & Audzevicius Partner Rokas Jankus, iLaw Lextal Managing Partner Tomas Bagdanskis, and Sorainen Managing Partner Laimonas Skibarka share how Baltic firms have managed to hold their own in these challenging times.