Andra Rubene and Madara Melkerte on amendments to the Commercial Law aimed at fighting illegal takeover of companies or corporate raiderism

Andra Rubene and Madara Melkerte on amendments to the Commercial Law aimed at fighting illegal takeover of companies or corporate raiderism

On 9 May 2013, portal “Dienas Bizness”, section “Saldo” published article “The Commercial Law will demand higher level of security” by Andra Rubene, Partner and Head of M&A Practice Group in Latvia, and Madara Melkerte, Lawyer, both from law office TGS Baltic, informing on several significant amendments to the Commercial Law that will become effective on 1 July this year.

The amendments to the Commercial Law are aimed at fighting illegal takeover of companies or corporate raiderism by providing for notarizing of a person’s signature on certain documents, improving procedure of alienation and registration of the shares, as well as will clarify the provisions on exercising the rights of first refusal, and provide for the rights to redeem the shares.

Click here to read the article (available in Latvian): http://www.db.lv/saldo/komerclikums-pieprasis-augstaku-drosibas-limeni-393366