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Juridiskie pakalpojumi

Restructuring & Insolvency

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About

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.

Corporate Restructuring

Debt Restructuring

Cross-border insolvencies

Creditor Representations

Insolvency Litigation

Bank insolvencies

Juridiskie pakalpojumi

Team

Gints Vilgerts

Gints Vilgerts

Managing Partner

Jānis Kubilis

Jānis Kubilis

Partner

Reinis Sokolovs

Reinis Sokolovs

Partner

Anda Staltmane

Senior Associate

Juridiskie pakalpojumi

Experience

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    Juridiskie pakalpojumi

    Publications

    • Companies registered in Latvia will be able to use crypto assets to pay for their share capital

      May 23, 2025

      by Reinis Sokolovs, Partner

      During the end of 2024, the Latvian government introduced amendments to the Commercial Law, specifically permitting the use of crypto assets as contributions in kind to the share capital of a limited liability company (SIA). These latest amendments are part of a broader strategy aimed at promoting in...

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    • How to prove the use of a Trade Mark? Valuable Guidance from the Supreme Court Judgment

      May 19, 2025

      by Brigita Tērauda, Partner

      With the registration of a trade mark, its owner acquires not only exclusive rights against third parties but also the obligation to commence the use of the trade mark no later than within 5 years. At the same time, any interested person has the right to challenge the registration of a trade mark ...

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    • Sanctions and AML conformity now apply to entries in the Land Register

      April 25, 2025

      by Elizabete Bartansone, Associate

      During the past five years, the publicly listing of the ultimate beneficial owners (hereinafter, the  “UBO”) of legal entities has been highly topical within Latvia and at the European Union level since the implementation of AML directives.[1] The latter entailed the obligation for every company...

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    • 2024 Baltic M&A transactions: revival, new players, and prospects

      April 4, 2025

      by Reinis Sokolovs, Partner

      The year 2024 was marked by an optimistic period of recovery for mergers and acquisitions (M&A) across the Baltics following a few challenging years. According to Mergermarket data, a total of 231 M&A transactions were announced in the Baltics, with a combined value of EUR 2.1 billion — ...

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    • Termination of a procurement procedure – what is an ‘objective justification’

      March 14, 2025

      by Debora Garanča, Partner

      As a result of the recent judgments handed down by the Supreme Court of Latvia (Senāts), there is now welcomed clarification within the case-law concerning the legality of a contracting authority’s decision to terminate a procurement procedure. A decade ago, the only way to successfully challen...

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    • Cartel Damages Claims: Jurisdiction and forum shopping clarity

      March 7, 2025

      by Charles Clarke, Expert Counsel

      Introduction Companies are occasionally left scratching their heads as to the far-reaching possibilities associated with a claimant’s ability to forum shop for damages claims in certain jurisdictions, as a result of an infringement carried out by a group company in which they had no knowledge or...

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    • The concept and legal impact of preliminary agreements

      October 21, 2024

      by Agris Dēdelis, Associate

      In its judgment (case No. C29244819) of 5 July 2023, the Supreme Court of the Republic of Latvia ruled that a preliminary agreement constitutes a contract. Voluntary non-performance of such an agreement grants the right to seek the enforcement of the main contract through judicial proceedings. The co...

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    • Amendments concerning the regulation of a collateral agent under Latvian law

      August 27, 2024

      by Gints Vilgerts, Managing Partner

      Those arranging bond issuances in Latvia often have practical questions about the regulation of a collateral agent’s functions. Until 12 July 2024, this was a very complex question with several possible answers. Theoretical uncertainty contributed unnecessary worries amongst bond issuers and inv...

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    • Family of trademarks

      July 17, 2024

      by Brigita Tērauda, Partner

      In March this year, the final ruling in the almost eight-year long trademark dispute between Air Baltic Corporation AS and SIA Baltic Taxi, over the trademarks Baltic Taxi[1], entered into force. The Latvian Supreme Court’s judgement in this case expressed several important conclusions which are li...

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    • What are “options” and the possible types of option contracts?

      May 20, 2024

      by Reinis Sokolovs, Partner

      In the business world, as well as in everyday life, there are options and opportunities. If in life options and choices are dependent on various coincidences and they coincide with human actions, then in the business world options to choose can also be strengthened contractually by closing options co...

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    • Purchase of commercial land in Latvia

      May 20, 2024

      by Elizabete Bartansone, Associate

      Can you imagine the situation where a carefully selected and purchased plot of land ends up causing more losses than expected gains?  This article provides a practical overview of what to look out for so as to avoid ending up in such unfortunate situations. In 2019, when the well-known supermarke...

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    • Legal trends: M&A tech deals in Europe and US (2024)

      April 5, 2024

      by Gints Vilgerts, Managing Partner

      The IBA’s 7th Mergers and Acquisitions in the Technology Sector Conference took place in Barcelona on 14–15 March 2024. It was generously attended by prominent deal makers and leading lawyers from all over the world. Below is a summary of key takeaways from the conference attended by Gints Vilg...

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    • Should a trademark owner formally react to a similar brand circulating in Latvia?

      March 19, 2024

      by Brigita Tērauda, Partner

      Traditionally, companies, for one reason or another, seek to avoid litigation as much as possible. This is totally understandable, litigation is time and resource consuming and for the most part, unpredictable. In this regard, to date, there has been no very active litigation practice before the Latv...

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    • Private damages claims as a result of cartelized procurement in Latvia

      March 11, 2024

      by Debora Garanča, Partner

      Is it simply enough for the claimant to rely on the decision of the Competition Council?   The construction cartel saga has thoroughly disturbed the calm waters of private damages claims in Latvia, in which the EU Damages Directive has so far been relatively unused in practice. However, sinc...

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    • Public limited liability companies must amend their Articles of Association and disclose their shareholders’ register by 30 June 2024

      February 5, 2024

      by VILGERTS law firm

      To date, the shareholders’ register of a public limited liability company (akciju sabiedrība) have been only accessible via internal processes within the company itself or the central securities depositary [centrālais vērtspapīru depozitārijs]. The shareholders’ register is accessible ...

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    • Review of M&A deals in Latvia and the Baltic states for the year 2023

      February 5, 2024

      by Reinis Sokolovs, Partner

      The year 2023 witnessed a decline in the number and value of Latvian and Baltic M&A (Mergers and Acquisitions)  The war in Ukraine, energy risks, supply chain disruptions and inflation have continued to pose challenges for deals, as in previous years. Additionally, this year has seen new hurdles...

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    • UNEQUAL DISTRIBUTION OF DIVIDENDS: RISKS FOR MINORITY SHAREHOLDERS

      August 18, 2023

      by Gints Vilgerts, Managing Partner

      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 could not be changed by way of mutual agreement ...

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    • Non-compete clauses: permissible between potential competitors?

      November 23, 2023

      by Charles Clarke, Expert Counsel

      Non-compete clauses are nothing new and common business practice to ensure the necessary fulfilment of agreements and to protect common interests. Such clauses are compatible with competition rules so as long as their duration, subject matter and geographic scope do not go beyond what is reasonably n...

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    • Emojis: can they create binding legal contracts in Latvia?

      November 22, 2023

      by Agris Dēdelis, Associate

      On 8 June 2023, the Supreme Court of Canada ruled that a supplier’s claim for debt collection from the buyer for the supply of linseed was justified due to the fact that the buyer had agreed to the terms of the contract by sending the supplier a “👍” or raised thumb emoji (see KING'S BENCH FO...

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    • The risks attached to unpaid work of a Board Member.

      June 13, 2023

      by Agris Dēdelis, Associate

      Nearly all natural and legal persons who engage in an economic activity encounter debtors who deliberately evade fulfilment of their obligations or attempt to do so in an unlawful or unethical manner. It is emphasised, such behaviour by a debtor is wholly unacceptable and illegal. There are variou...

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