Sorainen’s cloud-based legal practice management spin-off Crespect has received a EUR 227,000 innovative product development grant from the European Regional Development Fund and has also closed its EUR 605,000 seed investment round.

Sorainen has provided pro bono legal representation to Re:Baltica Center for Investigative Journalism journalist Inga Springe in harassment proceedings against Janis Sondars.

As Lexpo – The Legal Innovation Event returns in 2023 after a three-year hiatus, showcasing the latest trends in legal innovation in Continental Europe, CEELM spoke with Dentons Europe Director of Innovation and Member of Lexpo's Advisory Board Andrea Miskolczi to gain an insight into the current state of technology and innovation in CEE, and what the event's attendees have to look forward to.

On February 24, 2023, the Latvian Constitutional Court issued a long-awaited Judgement in case 2022-03-01 confirming that the current control mechanism over arbitration in Latvia is incomplete and unconstitutional. This means that the government will now be required to introduce a procedure for setting aside arbitral awards made by tribunals seated in Latvia.

On March 8, 2023, Eversheds Sutherland announced that Lagardere’s acquisition of the Costa Coffee Group’s Polish and Latvian subsidiaries (reported by CEE Legal Matters on October 7, 2021) had closed.

Walless has advised the Eco Baltia Group on its acquisition of Pilsetas Eko Serviss via its subsidiary Latvijas Zalais Punkts.

Sanctions are currently relevant as a foreign policy tool and as an institution of law. For Latvia, as a border state with Russia and Belarus, the monitoring and enforcement of restrictions imposed by the sanctions are particularly relevant.

As of January 1, 2023, new rules regulating exclusion grounds will be applicable in Latvian procurements. This comes after the Latvian Competition Council discovered a bid-rigging scheme in the construction sector involving almost all of the largest Latvian construction companies. Notably, the period of exclusion will be extended, and the commencement date will be brought forward.

Latvia’s commercial real estate market saw a high volume of transactions in the past few years, involving shopping centers, stores, offices, and other types of properties. Cobalt Managing Partner Dace Silava-Tomsone, Ellex Klavins Partner Ilga Gudrenika-Krebs, and BDO Law Head of Legal Raivis Leimanis chart the market’s performance in a foggy 2022. 

The past two years have brought about tectonic shifts across all industries, business sectors, and economies. Adapting to the ever-changing concept of a “new normal” became an everyday task, and law firms were no exception. Motieka & Audzevicius Partner Rokas Jankus, iLaw Lextal Managing Partner Tomas Bagdanskis, and Sorainen Managing Partner Laimonas Skibarka share how Baltic firms have managed to hold their own in these challenging times.

Cobalt has advised Latvenergo on its EUR 50 million issuance of six-year green bonds with a fixed annual interest rate and a yield to maturity of 4.952%.

Ellex has successfully represented TD Trans before the Senate of the Supreme Court of Latvia in a cassation claim regarding a Riga Regional Court ruling on the breach of the unfair competition prohibition, where almost EUR 30,000 in loss compensation was awarded.

Cytowski & Partners has advised Trace.Space on its USD 1.5 million pre-seed financing round led by Fiedler Capital and including Foreward, Charlie Sanghurst, and Andris Berzins from Change Ventures.

TGS Baltic has advised Eco Baltia on its inaugural EUR 8 million issuance of three-year bonds. Eversheds Sutherland acted as trustee for the issuance.

Sorainen has helped BITE Latvija obtain the rights to use frequencies enabling 5G services.

Sorainen has advised the Riga Energy Agency on the development of a concept and business model for the Riga Energy Efficiency Fund.

TGS Baltic has advised Vilnius-headquartered renewable energy company Green Genius on its acquisition of a 100-megawatt solar PV project in Latvia.

Sorainen has advised Tietoevry on its lease agreement with developer Capitalica for office space in the Verde office center in Riga's Skanste district.