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TGS Baltic Latvia office successfully represents Ltd. "2B Capital AIFP" before the Financial and Capital Market Commission during granting the status of a registered alternative investment fund manager and registration of the closed alternative investment fund “Equilibrium Fund” with five sub-funds “2B 1 Subfund", "2B 2 Subfund", "2B 3 Subfund", "2B 4 Subfund" and "2B 5 Subfund". The fund will make investments mainly in the share capitals of companies registered in Latvia and operating in the target industry – real estate. The project was led by Senior Associate Alise Eljašāne.
TGS Baltic representatives Partner Inese Hazenfusa, Senior Associate Alise Eljašāne, Associate Kalvis Krūmiņš and Associate Rūdolfs Vilsons presented to the participants of the start – up programme of ‘’Overkill Venture AIFM’’ a brief insight into the General Data Protection Regulation and the Start-up programme support law. During the workshop, the lawyers responded to the challenging questions of the participants. The participants were interested in a broad range of issues - questions about personal data protection, start-up qualifications, legal framework for inheritance law, and, of course, the currently so popular cryptocurrency issues.
Māra Stabulniece, Senior Associate at TGS Baltic, is a contributor to David Ashton’s book "Competition Damages Actions in the EU, Law and Practice, Second Edition". In this revised and much expanded second edition David Ashton provides a comprehensive review of the EU damages directive (Directive 2014/104/EU) and its implementation, bringing the book up to date with the latest advances in EU Competition Law damages actions.
The Bank of Lithuania has prepared a draft of the Regulations on Assessment Visits. The draft proposes to introduce a new form of cooperation of the Bank of Lithuania with market participants supervised by it – the assessment visits (the "Visits").
Regulators in Lithuania have broken from their fintech-friendly reputation by issuing tough restrictions on businesses using virtual currencies such as Bitcoin.
On 18 September 2017, a new version of the Rules for Accounting of Financial Instruments and their Circulation (the “Rules”) came into effect. The Rules finally cancelled an excessive requirement, according to which, in case of transfer of shares in public limited liability companies (UAB), in excess of the limits provided for in Article 1.74 of the Civil Code of the Republic of Lithuania (the “Civil Code”), but having no intention to make a notarised transaction, it was required not only to transfer management of shareholders’ personal securities accounts to an account manager, but also to register UAB shares with Nasdaq CSD SE
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