News
Unequal distribution of dividends: risks for minority shareholders
Until 1 July 2023, the principle applied under the applicable law in Latvia detailed that dividends could be calculated only in proportion to the shares held applied to Latvian private and public limited liability companies (AS and SIA). This principle...
The EU’s revised Horizontal Guidelines and Block Exemption Regulations...
On 1 June 2023, the European Commission (hereinafter, the “Commission”) adopted the much-anticipated revised horizontal block exemption regulations (hereinafter, the “HBERs”) on research and development and specialisation agreements, including the revised guidelines on cooperation agreements (hereinafter, the “Guidelines”), replacing the...
Top tier Litigation and Dispute practice.
VILGERTS’ litigation and dispute resolution team has been ranked by The Legal 500 and recognised as a Tier 1 practice group. The head of VILGERTS’ litigation and dispute resolution team, Dr. Jānis Kubilis, continues to be recognised as a Next...
Have you updated your AML internal control system?
The Law on Money Laundering and Terrorism and Proliferation Financing (“Law”) obliges the Board of a company to review its AML files at least once every 18 months. The applicable provisions of the Law underline the ‘subjects’ brought under the...
Related Experience
VILGERTS team advised AS DelfinGroup on the conditions of the unsecured bond issue prospectus in the amount of EUR 15 million. The prospectus for the issue of unsecured bonds includes both the opportunity for new investors to purchase the new unsecured bonds from 4 August 2023, as well as the opportunity for existing investors of certain categories of bonds to exchange existing bonds for new ones.
August 22, 2023
The VILGERTS’ team is advising East Capital Real Estate on its acquisition of 100% of the shares in Hepsor U30 SIA (a subsidiary of the Estonian company, Hepsor Latvia OÜ), which owns a commercial building called “StokOfiss U30”, developed by Hepsor (with a total rental area of 3,642 m2). The transaction is valued above EUR 5 million. StokOfiss U30 is a multifunctional commercial building with a three-in-one leased space solution, including a sales premises, office space and a warehouse.
June 13, 2023
VILGERTS advised SIA "Biļešu paradīze", a company of Ekspress Grupp AS, in a dispute in which SIA "Biļešu serviss" contested the results of the procurement tender concerning the sale of tickets for the upcoming and the largest national “Song and Dance Festival” in Latvia. As a result, the tender results were left unaltered and SIA "Biļešu paradīze" concluded a contract with the contracting authority.
May 16, 2023
The VILGERTS team advised the owner and manager of Galleria Riga, "East Capital Real Estate", in successfully finalising a significant long-term lease agreement with Workland. The agreement involves a remarkable investment (exceeding EUR 3 million) and aimed at transforming the expansive fifth floor of Galleria Riga, spanning an impressive area of 3,200 m2, into state-of-the-art co-working offices.
May 16, 2023