The problem that has arisen in practice, where Estonian companies are unable to open a bank account, will receive a solution no later than the 1st of January 2019, when Estonian companies will have the option to open an account in a foreign credit or payment institution. Read more
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The European Court of Human Rights passed a judgement in a case last year where the main issue was whether or not the court had ordered excessively large compensation for non-pecuniary damage for defamation. More precisely, was the 1,25 million euros ordered by the Court of Justice of Ireland too big a sum for publishing Read more
In May 2018 the amendments to the Law on the Prevention of Money Laundering and Terrorism Financing (“the Law”) came into force, which aimed to strengthen the Latvian state financial system by reducing the number of high-risk transactions with particularly high-risk customers, which are shell companies. At present, the Law sets the characteristic features of Read more
There have been no major acquisitions of any listed companies in Estonia for a couple of years already. With the exception of Järvevana (2014), the latest acquisitions date back to the previous decade – Norma (2010), Estonian Telecom (2009), Saku Brewery(2008) etc. Also, considering the importance of OEG for the stock exchange and for minority Read more
As of May 25, 2018, General Data Protection Regulation (Regulation (EU) 2016/679, hereinafter GDPR or Regulation) becomes enforceable. It applies if data controller (data collector) or processor, or the data subject (physical person) is EU-based. GDPR establishes wide corrective powers for supervisory authorities (Data state inspectorate in Latvia), including power to impose an administrative fine Read more
Mr. Manni was a director of Italiana Costruzioni Srl, an Italian building company that was awarded a contract for the construction of a tourist complex. He found out that he was losing clients who performed background checks of the company. Read more
On 11th May, Advocate General Szpunar of European Union Court of Justice delivered an opinion in preliminary ruling procedure C-343/15. In Spain, the issue in proceedings was a service by the name of UberPop, whereby non-professional private drivers transport passengers using their own vehicles. Read more
While conducting a larger transaction there are several aspects to which attention should be paid. The most important of these aspects from which all others stem is the object of the sale. And in the case of the object of the sale it is important that both the buyer and the seller understand in the Read more
The export goods and services of the Lithuanian companies is growing with each passing year, as well as the need to protect their trademarks in other markets. However, many entrepreneurs are now wondering whether a registration of one’s trademark transcribed only in Latin characters in another country would be able to protect it. Read more
National supervisory authorities may increase a mandatory takeover bid on suspicion that the pricing was based not on the situation in the company or the market, but rather on collusive agreements. Read more