Restructuring & Insolvency

M&A and Corporate Restructuring & Insolvency

The firm has played a major role in the legal processes linked to bankruptcies of three Baltic banks with assets of over EUR 1.2 billion.

Our restructuring and insolvency team consists of lawyers with extensive knowledge in corporate, commercial, banking, and financial law, as well as dispute resolution, financial crime, and international aspects of restructuring and insolvency. The group is involved in managing large-scale bankruptcy and restructuring processes, including bankruptcies of financial institutions, large construction companies, and information technology companies.

Our team has thorough practical experience and know-how on restructuring businesses in distress, both in and out of court. We also help our clients protect their rights as creditors in cases where their debtors are in restructuring or have gone bankrupt.

We collaborate with company management and financial consultants, reorganisation advisors, bankruptcy trustees, creditors, and shareholders. Because our lawyers have taken part in the process of drafting and amending bankruptcy and restructuring legislation, we can offer our clients innovative solutions that really work.

Major Deals

  • 17.05.2021

    TGS Baltic provided legal assistance to the European Central Bank on Latvian law matters related to appeals of the orders of the General Court of European Union dismissing as inadmissible actions for annulment of the acts declaring ABLV Bank and its subsidiary, ABLV Bank Luxembourg SA, as failing or likely to fail.

    TGS Baltic provided legal assistance to the representatives of the European Central Bank (ECB) on certain Latvian law matters related to rejection of the appeals of ABLV Bank AS and Mr. Ernests Bernis, Mr. Oļegs Fiļs, OF Holding SIA and Cassandra Holding Company SIA requiring setting aside of the orders of the General Court of the European Union of 6 May 2019, ABLV Bank v ECB (Case C‑551/19 P), and the order of 6 May 2019, Bernis and Others v ECB (Case C‑552/19 P), by which the General Court dismissed as inadmissible their actions for annulment of the acts of the ECB of 23 February 2018 by which the ECB declared that ABLV Bank and its subsidiary, ABLV Bank Luxembourg SA, were failing or were likely to fail.

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  • 09.05.2016

    TGS Baltic successfully represented Ūkio Bankas in a dispute against Boslita

    TGS Baltic successfully represented bankrupt Ūkio Bankas in a dispute against Boslita and Co, a sparkling wine and wine beverages producer, on the EUR 14.6 m loan recovery.

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  • 29.02.2016

    TGS Baltic successfully represented bankrupt Ūkio Bankas in a dispute against Renaissance Insignia Limited

    TGS Baltic successfully represented bankrupt Ūkio Bankas in a dispute against Renaissance Insignia Limited, a company registered in the island of Jersey, on recovery of funds by way of non-bankruptcy procedures by concluding a financial collateral agreement in accordance with the Financial Collateral Arrangements Law.

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  • 17.03.2015

    Represented BUAB Ranga-IV in a legal dispute against NUKEM Technologies GmbH

    TGS Baltic successfully represented BUAB Ranga-IV in a legal dispute against NUKEM Technologies GmbH regarding relationships arising out of the Contract for Construction (FIDIC) of the Temporary Nuclear Fuel Storage (B1) of the Ignalina Nuclear Power Plant.

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  • 26.11.2014

    TGS Baltic receives continuing high rankings from IFLR1000 in Baltic countries

    IFLR1000 (International Financial Law Review) is the guide of world’s leading financial law firms. The guide analysis and ranks more than 120 jurisdictions in the world.

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  • 28.02.2014

    Sale of Assets of Ūkio Bankas

    AB Ukio Bankas, one of the major Lithuanian banks, had its activities suspended and was put under administration due to liquidity problems in February 2013.

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Awards & Recognition

  • Chambers and Partners

    The firm “impresses sources with its full-service capability and strength in multi-jurisdictional deals [as well as] flexible negotiators who make the process smooth and efficient.”

    Chambers and Partners
  • Legal 500

    “The lawyers in the team are important figures for restructuring complicated real estate finance structures.”

    Legal 500
  • Chambers and Partners

    TGS Baltic "really excels in litigation and is widely known to employ some of the most talented people on the market. They are also extremely good at insolvency matters, including dispute resolution."

    Chambers and Partners
  • CHAMBERS AND PARTNERS

    TGS Baltic is "a top pick for insolvency-related matters and management board liability matters".

    CHAMBERS AND PARTNERS

Team

Key Contacts