Category: Uncategorized

Integrites has acted as legal advisor to the European Bank for Reconstruction and Development on the Bank’s loan of USD 26 million to the Astarta group of companies, which Integrites describes as “leading Ukrainian agro-industrial operators and manufacturers of sugar.”

According to the firm, the project is part of an ongoing relationship between the EBRD and Astarta, which began in 2008. The borrowed funds will be used to finance Astarta’s working capital, and to support the company’s liquidity needs in a period of decreasing availability of external financing in Ukraine.

According to Integrites, the firm “advised on appropriate documentation governed by English law and peremptory norms of Ukrainian legislation, developed and issued a package of security documents, and helped in the design of the preconditions for a sample loan.

Integrites’ team was led by Partner Alexander Alekseenko, assisted by lawyers Eugene Block and Dmitry Nishpala.

Earlier this year, the same firm advised the EBRD on the perfection of a security package for a USD multimillion existing financing to the Astarta Group (reported on by CEE Legal Matters on June 20, 2014). At the same time, a few days ago, Gide Loyrette Nouel has advised the European Investment Bank on another loan to the same company, worth EUR 50 million (reported on by CEE Legal Matters on November 27, 2014).

Vasil Kisil & Partners has successfully represented Edelweiss Development before the Ukrainian Commercial Court of Appeal in a dispute regarding invalidation and cancelation of orders of the state administration.

According to VKP, “the Court decided to entirely dismiss [the] prosecutor’s claim.”

According to VKP, the dispute revolved around the request for permission to develop land management projects and the approval to change the official purpose of property from “agricultural land” to “land designated for residential and public buildings,” as well as invalidating various state acts regarding the land’s ownership. 

VKP Senior Counsellor Vadym Belyanevych, Senior Associate Oleg Kachmar, and Associate Yuriy Kolos, all supervised by Partner Oleg Alyoshin, represented Edelweiss Development.

“Disputes with state agencies, particularly with the prosecution, have their own specifics. It should be noted that due to recent changes in the country, the courts have become more transparent and impartial in their attitudes to the parties, even if one of them represents the public interest,” said Alyoshin.

Dentons has reported that, on November 14, it signed a new association agreement with Belarus law firm Stepanovski, Papakul & Partners to continue the cooperation the two started (with legacy firm Salans in place of Dentons) in 2011.

Dentons’ association with SPP will focus on investment projects in the Republic of Belarus, Belarus-based investor projects in the CIS/CEE and EU, as well as litigation and other projects related to the Eurasian Economic Union.

According to a Dentons’ statement, it and SPP “have previously worked together on a number of important projects, from advising tech companies to advising a well-known European-based IFI in connection with an investment project for the manufacture of furniture in the Republic of Belarus with financing from European banks. This new relationship will enable Dentons and SPP to more effectively serve their clients in Belarus and also contemplates joint training and marketing projects.”

“The Belarus market is particularly important to Russian and Polish investors and we welcome SPP, one of the largest firms in Belarus to the family of firms associated with Dentons,” commented Tomasz Dabrowski, Dentons Europe Chief Executive Officer. “Having a strong partner in Minsk enables Dentons to expand the geographic range in which it is able to offer clients top quality legal services.”

Alexander Stepanovski, SPP Managing Partner, added, “Our work together has withstood the test of time. Today we work as one team, and can successfully resolve the most complex issues—including matters of investment—by drawing on Dentons’ unique international experience and SPP lawyers’ intimate knowledge of Belarusian law. Thus our clients get the most effective legal solutions and the best service on the market.”

Glimstedt has represented Storent Holding on the acquisition by Darby Private Equity of a majority equity interest in the company that closed on November 20th.

As reported previously, Borenius represented Darby.

Storent is a leading construction and industrial equipment rental company in the Baltics, operating 23 rental depots across Latvia, Lithuania, and Estonia. The company will continue to implement its growth strategy, Glimsedt reports, by developing its equipment fleet, strengthening its core Baltic region market share, and work on expanding in new markets.

Glimstedt Partner Ivars Pommers represented Storent in the process by providing legal advice in the exit of financial investor BaltCap and the attraction of Darby as investor.

BDK Advokati/Attorneys at Law has advised the EBRD on a EUR 23 million secured loan to the Serbian soft drinks producer Nectar.

The loan consist of a EUR 18 million committed tranche designated for the refinancing of an earlier loan for the acquisition of Slovenian Fructal, and a EUR 5 million uncommitted tranche for investments in energy efficiency and capex. The financing is part of a larger package also involving EBRD loan to Fructal in the amount of EUR 7 million and additional funds lent to Nectar by Serbian commercial banks Societe Generale and Komercijalna banka acting as parallel lenders. 

Nectar provides fruit and vegetable processing in Serbia. It offers apple, strawberry, pineapple, apricot, orange, blueberry, black grapes, blackcurrant, peach, raspberry, plum, sour cherry, quince, pear, carrot, tomato, red grapefruit, green banana, ashai, and guanabana products; nectar and fruit beverages; energy drinks and boosters; ice tea; and other products, such as brandies, red pepper paste, vinegar, and fruit syrups. Nectar was founded in 1997 and is based in Backa Palanka, Serbia.

The BDK team was led by Managing Partner Tijana Kojovic.

The Kiev office of Baker & McKenzie acted as Ukrainian legal counsel to Siemens Ukraine on matters relating to forming the joint venture of Siemens and Mitsubishi Heavy Industries in the metals technologies business.

The implementation of the joint venture involved the carve out of the metals business of Siemens Ukraine into a new Ukrainian Limited Liability Company SIEMENS VAI Metals Technologies and relevant regulatory advice.Siemens and Mitsubishi Heavy Industries (MHI) are forming a globally operating complete provider for plants, products and services for the iron, steel and aluminum industry to cooperate in the field of metallurgical industry. According to the agreement between Siemens and MHI, MHI will hold a 51% and Siemens a 49% stake in the joint venture. The joint venture will start operations in January 2015. Both partners are contributing their metallurgical industry activities to the joint venture. The company’s headquarters will be located in the United Kingdom.

The Baker & McKenzie team of the Kiev office was led by partner Ihor Olekhov with the input from associates Hanna Shtepa and Victoria Ischenko.

This article is powered by our friends at UJBL. The articles were originally published here. 

Image source: AR Pictures / Shutterstock.com

Tark Grunte Sutkiene and Freshfields Bruckhaus Deringer, working together, have successfully represented the Financial and Capital Market Commission of the Republic of Latvia against a claim brought against it in the International Arbitration Court.

The claims was brought by Bryn Services under the Agreement between the Government of the Republic of Latvia and the Swiss Federal Council for the Promotion and Protection of Investments of 22 December 1992.  

Freshfields Partner Noah Rubins and Associate Pierre-Olivier Savoie worked on the matter for Freshfields. 

No other information is available at the present time.

Varul has announced that Attorney Rolandas Galvenas has joined the firm’s Vilnius office, where he will head the Lithuanian Real Estate group.

Robert Juodka, the Lithuanian Managing Partner at Varul, said:”We are very pleased that a colleague with wide local and international experience has joined our constantly growing team. Rolandas Galvenas will strengthen our firm’s competencies in real estate, land-use planning, construction law, and public private partnership. His prior experience will create more value for our clients and help establish Varul as a leader in the above-mentioned fields of law.”

Galvenas has been practicing law since 1997, after obtaining a degree at Vilnius University and interning at the International Law Development Institute in Rome. Prior to joining Varul, Roland Galvenas worked as Partner and Head of Real Estate and Environment Team at Lawin, before establishing his own law firm and working independently. For the past ten years he has also taught in the Civil and Commercial Law and Business Law Departments of Mykolas Romeris University. He also belongs to the permanent arbitrators list of the Vilnius Court of Commercial Arbitration and frequently serves an arbitrator in VCCA cases. He specializes in real estate, land law, construction and territory planning, PPP, corporate and commercial law, bankruptcy, and environmental law. 

Galvenas explained that: “I am happy to have been offered a position in a fast growing, proactive and modern law firm such as Varul. I believe that my many years of practical and academic experience will contribute to Varul’s goal to provide the highest level of professional services to customers in Lithuania and abroad, as well as to contribute to the implementation of the firm’s strategic plans and develop new legal services products.”

bpv Huegel has hired Rudolf Beck as a Partner in its Moedling office.

Beck joined the firm from Beck Krist Bubits & Partner, a firm that he founded in 1992. He specializes in Contract law, Real Estate, Transportation, and Hunting law. 

A 1977 graduate of Vienna University, he is also a Member of the Committee of the Bar Association of Lower Austria.

Tark Grunte Sutkiene has announced that Ivars Grunte, the Managing Partner of the firm’s Latvia office, was presented a Mark of Distinction of the second rank from the Latvian Ministry of Justice for “significant contribution in development of the justice system and facilitation of knowledge and professionalism of the officials belonging to the court system.”

The Mark of Distinction is special award established by the Latvian judiciary six years ago, to recognize the importance of the legal profession and enhance the professional community. The purpose of the award is to highlight particular achievements in and contribution to the development of the justice system of the Republic of Latvia and to strengthen the rule of law.