Restructuring & Insolvency

Who We Are

When business is not doing well, our team of lawyers is ready to offer scenarious for soft landing. We work for shareholders, management, suppliers of merchandise, banks and other creditors to save the business and protect the assets.

Practice In Detail
  • Bank insolvencies
  • Corporate Restructuring
  • Creditor Representations
  • Cross-border insolvencies
  • Debt Restructuring
  • Insolvency Litigation
  • Auto Halle
  • AvtoKraz
  • Invalda
  • MG Valda
  • PLUTA Rechtsanwalt
  • Rīgas domes Īpašuma departaments
  • SEB
  • Swedbank



Advising SmartLynx Airlines, EU based airline, with headquarters in Riga, on business restructuring options and risks.

Provision of legal support to Baltic Dairy Board in defending its interests against unlawful business take over and challenging of assignment agreement.

Assisting MG Valda and Invalda AB in more than EUR 19 Mio insolvency proceedings of Dommo Grupa and its subsidiaries, operating a logistics warehouse nearby Riga, and closing insolvency with a successful buy-out of all claims from Swedbank by the clients and return to solvency of Dommo Grupa.

Advising Auto Halle, a distributor of Suzuki, Peugeot, Seat, Hyundai and Isuzu cars in Latvia, in distressed situation arising from EUR 5 Mio loan issued by Swedbank. We assisted with the negotiations with the bank, legal protection proceedings, insolvency process, project planning and eventual refinancing of the company.

Advising IVECO Group in negotiations with a Latvian debtor in handling various aspects of insolvency, guarantee enforcement and further financing of the supplied vehicles as well as Latvian litigation procedure. The amount of debt was in excess of EUR 0.6 Mio.

Representation of the management and shareholders of a Latvian construction company Troda SIA in insolvency proceedings of Troda SIA and closing of insolvency with successful settlements with all of the creditors and release from liability of the management board members including release of  the clients' real estate assets from the court injunction on the basis of the bankruptcy estate's claim.

Advising bankruptcy estate of Kaupthing hf, an Icelandic bank, on Latvian aspects of financial instruments issued in Iceland and their offering by agents directly to Latvian creditors in swap of the claims against the client.

Assisting the Latvian Ministry of Economics in creating a single state-owned holding providing business development aid. The entity manages assets worth EUR 500 Mio. through shares in financial institutions LGA, Hipotēku banka and LAF. We showed that the holding would receive in-house services from these institutions, so public procurement rules would not apply.

Advising SEB banka in Latvia on a number of distressed asset situations faced by the borrowers including enforcement of the pledges, securing the bank’s position during insolvency and restructuring process, and evaluation for possible white-collar crime litigation.

Assisting Avtokraz, a leading manufacturer from Ukraine, in dealing with distressed Parex Banka and newly established Citadele banka regarding repayment of the deposit or its conversion into Eurobonds issued by Citadele. The client’s claim was in excess of EUR 15 Mio.

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