Deals and cases
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01.01.2012
Implementation of EU Third Energy Package Directives in Lithuania
TGS Baltic assisted the Ministry of Energy of the Republic of Lithuania on all aspects of implementation of the Third Energy Package directives in the Lithuanian legal system and in the electricity and natural gas sectors.
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01.01.2012
Viasat Defence in Abuse of Dominant Position Investigation
TGS Baltic represented Viasat World Limited, a supplier of TV channels, as well as Viasat AS, one of the Baltic region's biggest digital pay-TV operators, in an investigation by Lithuania's Competition Council on alleged abuse of a dominant position.
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01.01.2012
Client Representation in Cartel Case
TGS Baltic represented a major multi-facility third-party logistics and warehousing company established in Lithuania's Klaipeda State Seaport before the Vilnius Regional Administrative Court and the Supreme Administrative Court of Lithuania, challenging a decision of the Competition Council regarding the client’s alleged participation in a cartel agreement.
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01.01.2012
Bank Representation in Cartel Investigation
TGS Baltic successfully represented AB DNB Bankas, Lithuania's third-largest bank and part of Norway‘s largest financial services group, before the Competition Council during an investigation of an alleged illegal agreement. This probe of the activities of all of Lithuania's biggest banks was one of the most significant investigations carried out by the Competition Council in the last few years.
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01.01.2012
Transfer of Employees
TGS Baltic advised one of the biggest energy companies in Lithuania on the transfer of employees following provisions of the Council Directive 2001/23/EC of 12 March 2001 on the approximation of the laws of the Member States relating to the safeguarding of employees’ rights in the event of transfers of undertakings, businesses or parts of undertakings or businesses.
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01.01.2012
Orion Asset Management Key Investor Information Documents
TGS Baltic revised the establishment documents of investment funds and investment companies with variable capital managed by the licensed asset management company UAB Orion Asset Management to ensure their compliance with EU legislation, specifically, the UCITS IV directive (including implementing legal acts).
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01.01.2012
Award of Damages Caused by Technical Incident at Ignalina Nuclear Facility
Due to disagreements with a contractor, the procedure for closing Ignalina Nuclear Power Plant, which is financed from EU funds, has been falling behind schedule. This case was of great significance as due to the delays, the EU threatened to terminate its financial support for the plant's decommissioning of about 120 million euros per year.
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01.01.2012
Award of Debt and Damages to IDS Borjomi Beverages
TGS Baltic represented IDS Borjomi Beverages Co. N.V., producer of world-famous Borjomi mineral water, in civil cases for a debt award in the amount of $1.3 million and approximately 2 million euros.
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01.01.2012
Defence in Disputes Initiated by Environmental Protection Officials
TGS Baltic represented the management of UAB Golf Development in a number of administrative, civil and criminal cases in Lithuania.
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01.01.2012
G4S Lietuva Civil Disputes with Insurers, Bailiff and Labour Union
TGS Baltic has represented UAB G4S Lietuva and successfully defended its interests in a wide range of civil disputes. The client is a subsidiary G4S, the biggest world-wide provider of security solutions.
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01.01.2012
Klaipėdos Nafta Dispute on Award of Damages for Contract Termination
TGS Baltic represented AB Klaipėdos Nafta, one of Europe's most modern terminals for crude oil and light and heavy oil products, in a civil dispute against UAB Naftos Grupė, a shipping-agent for transit oil products, regarding the award of damages caused by termination of a contract for services.
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01.01.2012
Lease of Floating Storage and Regasification Unit
TGS Baltic acted as the main legal advisor to the client with respect to conclusion of a Time Charter Party on the lease of a newly built Floating Storage and Regasification Unit (FSRU) to be used for the import of liquefied natural gas into Lithuania.
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01.01.2012
Drafting of Standard Agreement on Handling of Oil Products
TGS Balticacted as legal counsel to AB Klaipėdos Nafta, operator of an oil terminal in the Port of Klaipėda, for review of the Standard Agreement on Handling of Oil Products of the terminal’s clients, Arrangements on Return of Surplus of Oil Products, and other necessary documentation related to execution of the terminal‘s main activities.
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01.01.2012
Tax Dispute Regarding Application of Transfer Pricing
TGS Baltic represented a major Lithuanian company engaged in trading of metals in a tax dispute with the State Tax Inspectorate. The Inspectorate's corporate income tax claim amounted to more than 1 million euros.
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01.01.2012
Tax Dispute Regarding VAT Treatment of Land Sale
TGS Baltic represented the client in a dispute related to a VAT tax claim arising from the sale of land, which was made by the State Tax Inspectorate. The Inspectorate's tax claim amounted to more than 1.9 million euros. The firm achieved the definitive withdrawal of a part of the tax claim equal to 1 million euros and continues to dispute the remaining amount of the claim.
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01.01.2012
Acquisition of Sanitas, Lithuania's Largest Pharmaceuticals Manufacturer
TGS Baltic advised and provided full transaction services to Valeant Pharmaceuticals International, Inc. on the acquisition of 87.2% of the shares in AB Sanitas that were listed on the Nasdaq OMX Vilnius exchange for a total price of 365 million euros.
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01.01.2012
SEB banka acquires loan portfolio from Allied Irish Bank
TGS Baltic Latvia advised SEB banka on acquisition of a part of an undertaking containing mortgage loan portfolio from Allied Irish Bank, which was originally issued by the Baltic American Enterprise Fund and assigned to Allied Irish Bank, which winded up its activities in Latvia.
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01.01.2012
SEB Wealth Management acquires the rights to manage pension funds and investment plans
TGS Baltic represented and provided transaction support to SEB Wealth Management in the acquisition of the assets of AS Hipo Fondi, a group company of the Mortgage and Land Bank of Latvia, within the scope of restructuring of the bank. The assets transferred included the rights to manage pension funds and investment plans.
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01.01.2012
Eko Baltia IPO and listing in the Warsaw Stock Exchange and dual listing in the Riga Stock Exchange/Nasdaq OMX (suspended)
The rendered assistance included:
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01.01.2012
A distribution of Pfizer products in a non-EU market
TGS Baltic performed a feasibility study of the existing distribution arrangement in the Baltic markets for wholesale of Pfizer products to customers in a non-EU market.