Category: Latvia

Ellex Klavins has successfully represented Deaflympics athlete Maris Grenins before the Supreme Court of the Republic of Latvia, which on November 5th ruled that the Latvian Cabinet of Ministers had acted improperly in making an unusually low cash award to Grenins following his success in the 2013 Summer Deaflympic Games.

In its decision, the Supreme Court overturned a ruling by the Regional Administrative Court rejecting an application to require the Cabinet of Ministers to increase the award.

The Deaflympics are an International Olympic Committee-sanctioned event for deaf athletes. Unlike the athletes in other IOC-sanctioned events, the Deaflympians cannot be guided by sounds.

According to Ellex Klavins, “at the end of each year the Government of Latvia awards cash prizes to the best athletes who have excelled in sports.” The firm reports that, although Grenins won a bronze medal in the 110-meter hurdles at the Summer Deaflympics in 2013, “the prize awarded to [him] was five times lower than the award given to athletes at other sports events.”

“According to the regulatory framework, the Summer Deaflympics, the Olympic Games, and the Paralympic Games are to be treated as international competitions of equal importance,” explained Ellex Klavins Associate Partner Andris Lazdins, who led the firm’s team on the matter. “Therefore, when challenging the decision of the Cabinet of Ministers in court, we asked for equal treatment of all athletes who have achieved success in competitions at this level. This judgment will definitely influence the court’s view on other similar cases in the future, eliminate discrimination and promote the principle of equality”.

Primus Derling has advised AJ Power Recycling on the acquisition of 100% of the shares of SIA Latvijas Zalais Fonds. Azanda & Associates advised the sellers on the deal.

Primus Derling describes the AJ Power Group as “the largest private group of local capital energy companies in Latvia operating since 2014,” and the firm reports that it currently offers five types of services – electricity, natural gas, solar energy, a natural resource tax management system, and implementation of energy projects. 

SIA Latvijas Zalais Fonds operates in the field of packaging and management of environmentally hazardous goods.

The Primus Derling team was led by Partner Zane Eglite-Fogele and also included Attorneys Andis Ozolins and Kristine Sakarne.

The Azanda & Partners team was led by Partner Ieva Azanda.

Primus Derling has advised AS Sakret Holdings on its issuance of 5-year bonds worth almost EUR 4 million and the registration of collateral for them in Latvia, Lithuania, and Estonia.

According to Primus Derling, “it is planned for those bonds to be included in the Nasdaq Riga First North alternative market in early 2020.”

The Sakret Group is a manufacturer of dry mixes and ready mixes for construction. It operates production units in Riga, Latvia, Kedainiai, Lithuania, and Paide, Estonia.

The Primus Derling team was led by Latvian Partner Zane Eglite-Fogele and included Latvian Senior Associate Kristine Sakarne. Lithuania-based Senior Associate Greta Bagdanaviciute and Estonia-based Senior Associate Piret Luiga worked on the deal as well.

TGS Baltic and Baker McKenzie have advised Inspired, a global premium schools group, on its acquisition of the King’s College, a British schools group. Cobalt advised the King’s College on limited due diligence and Cuatrecasas reportedly advised the King’s College on the sale.

Inspired is a co-educational, non-denominational, independent school group designed to help students to reach their maximum potential in a “nurturing, progressive academic environment” from ages 1 to 18. Operating in Europe, Asia-Pacific, Africa, the Middle East, and Latin America, the company educates around 40,000 students across its international network of over 53 schools. According to TGS Baltic, Inspired schools are “individually developed and designed in response to their environment and location, delivering an excellent education to their respective communities.”

The King’s College group consists of ten schools in Spain, England, Germany, Latvia, and Panama. King’s College has provided children with a British education since 1969 and delivers the English National Curriculum.

The TGS Baltic team advising on Latvian matters was led by Partners Andra Rubene and Nauris Grigals, supported by Associates Vladlena Rudusane-Simica, Rudolfs Vilsons, Reinis Grunte, Toms Tidemanis, Kaspars Treilibs, and Martins Galzons.

The Cobalt due diligence team consisted of Partners Toms Sulmanis and Sandija Novicka, Senior Associate Zane Bule-Mitka, and Specialist Counsel Sabine Vuskane.

Sorainen has helped the VEFRESH association establish an urban smart solution testing area in the VEF district of Riga.

According to VEFRESH website, the VEF district gets its name from the “Valsts Elektrotehniska Fabrika” or “State Electrotechnical Factory” company, which was for many decades based in the area. According to the website, the association was “launched in 2019 when VEF district technology companies joined forces with real estate developers and Riga municipality-owned culture venue VEF Kulturas Pils,” with the aim to redevelop the VEF district as “a pilot territory for smart city solutions where corporations, startups, and the public sector prototype and test their latest solutions in public space.”

The Sorainen team included of Partner Ieva Andersone, Senior Associate Andris Taurins, Associates Linda Reneslace and Julija Terjuhana, and Legal Assistant Gunvaldis Leitens. 

Ellex Klavins has advised Eastnine AB on its EUR 25 million acquisition of the Valdemara Centrso office property in Riga from Capital Mill. Fort Legal advised the seller on the deal.

The property is fully leased to about ten tenants, including law firms and accounting firms.

The transaction, which is expected to close in the fourth quarter of 2019, will be financed with a combination of cash and bank loans. According to Ellex, in connection with the acquisition, Eastnine will establish its own organization in Latvia.

Sorainen Latvia has advised Rpax One on the sale of telecommunications company Baltcom to mobile communications operator Bite Latvija for an undisclosed price. Fort Legal advised Bite on the transaction, which is pending regulatory approval.

Registered in 2005, Bite Latvija’s sole owner is Bite Lietuva, which is part of international asset management company Providence Equity Partners.

Baltcom, registered in May 1991, is solely owned by Luxembourg-based Rpax One.

The Sorainen team included Latvia Managing Partner Eva Berlaus and Senior Associate Renate Purvinska.

The Fort team included Partner Janis Lokops, Senior Associate Roberts Prusis, and Associates Vita Rancane and Laila Pudule.

TGS Baltic has advised Latvian board games company SIA Brain Games on its acquisition of Lithuanian board game and toys wholesaler and retailer UAB New Media Publishing.

SIA Brain Games has been in the Latvian market for more than 15 years. The company distributes games from all over the world, including games created in Latvia, Lithuania, and Estonia.

The TGS Baltic team included Latvia Partner Andra Rubene and Associate Kaspars Treilibs and Lithuania Partner Dalia Tamasauskaite-Ziliene and Associate Indre Vickaite-Liatuke worked. 

Andris Lazdins has been promoted to Associate Partner as Ellex Klavins and will Co-Head the firm’s Dispute Resolution practice in Latvia with Partner Daiga Zivtina.

According to Ellex Klavins, “Lazdins’ professional experience spans over more than a decade representing and advising clients on various issues, including dispute resolution, white-collar crimes, and criminal proceedings in business.”

Liga Merwin, Managing Partner of Ellex Klavins, commented that the firm is ”extremely happy that this new position and higher degree of responsibility is entrusted to Andris,” and that, after six years with the firm, he has “proven himself as an outstanding expert in dispute resolution matters” adding that “we are eagerly waiting for his involvement!” 

Lazdins graduated from the Latvijas Universitate with a Master’s degree in Law and holds an LL.M. from the Riga Graduate School of Law. He worked with two solo practitioners in Latvia before joining Ellex Klavins in 2013.

TGS Baltic has helped Latvian hotel operator Mogotel register Melliore Asset Management, an alternative investment fund manager, and Melliore EF 1 closed-end AIF (with two sub-funds, Melliore EF 1 and Melliore RF 1), with Latvia’s Financial and Capital Market Commission.

According to TGS Baltic, “the fund will invest mainly in the share capital of companies registered in Latvia that are active in the fund’s target area – hotel management.”

The TGS Baltic team was led by Senior Associate Alise Eljasane.