Banking & Finance
TRINITI is a strong member of the growing community of the financial services sector in the Baltic States. We are very pleased about the rapid changes in the market as well as the initiatives of the state institutions, seeking to pave the way for more favorable conditions for the entities providing financial services. Our lawyers possess deep knowledge of legal requirements applicable to the entities operating in this sector and understand the burden the businesses face ensuring regulatory compliance. We are going hand in hand with technological progress and solve legal issues related thereto. We highly understand the challenges faced by the businesses due to the rising competition and the expectations of the clients. Taking that into consideration, we try to find the most suitable and cost-effective legal solutions for our clients.
TRINITI cooperates with start-ups intending to provide innovative financial (fintech) services as well as with several longstanding banking, insurance and investment fund clients, payment institutions, E-money institutions and providers of virtual currency (incl. wallet) services. Our team is also at the forefront of the crowd financing sector, both in terms of legal developments as well as their practical implementation. TRINITI’s Banking & Finance attorneys are experienced on AML matters, incl. teaching an AML course in the University of Tartu (leading and oldest university in Estonia) as well as participating in the preparation of the Estonian state money laundering and terrorist financing risk assessment. A national risk assessment is a sector-specific study designed to identify, assess and raise awareness of the risks, threats and vulnerabilities associated with money laundering and terrorist financing at both national and sectoral levels.
TRINITI’s Banking & Finance attorneys are experienced in following legal issues:
- credit facilities and financing agreements
- collateralization and loan syndication instruments
- applying permits/licenses for creditors, credit intermediaries, payment institutions, E-money institutions, providers of virtual currency wallet services etc.
- AML requirements and preparing AML internal procedures
- ICO and crypto-currency related legal issues
- fund formation
- collateral agent services
- bond issues
- pledges and mortgages
- financial dispute resolution
A short selection of TRINITI’s representative assignments in Banking & Finance:
- advising Deutche Bank in review of terms and conditions
- advising OP Corporate Bank Ltd Estonian Branch in drafting and implementation of internal rules for AML procedures
- counselling and support of Transpordi Varahaldus OÜ, Estonian government-owned asset company in an issue of 10 MEUR bonds for the acquisition of CRJ900 NextGen aircraft. The bonds were subscribed by LHV Bank and its investment funds
- advising the sellers in one of the largest transactions in the Baltics in 2018 – 85 % sale of Utilitas. The transaction also involved 300 MEUR acquisition financing from international syndicate of banks consisting of Skandinaviska Enskilda Banken, Crédit Agricole Corporate and Investment Bank as underwriters and HSH Nordbank
- advising insurance companies (such as Seesam/Compensa and PZU) in GDPR issues
- counselling and support in submission for virtual currency related services (VC: FIAT Exchange and VC wallet services) from Estonian FIU. Also advising on regulatory matters, preparation of general terms and conditions as well as issues regarding the compliance with GDPR and AML requirements
- representing the clients Shantiment and Santiment in the European Union’s first ICO case as well as the first dispute in Estonian and European courts, where the applicant was claiming payment in crypto assets (tokens) in value of ca 7 MEUR euros
- providing the collateral agent’s service to the investors of the Alexela Tanklad OÜ bonds. The bond securities provided by the issuer are held in the interests of the investors by TRINITI’s 100 % subsidiary company
- counselling and support of Crumblo’s open banking platform in submission for PSP permit (AIS, PIS) from Estonian FSA. Also advising on regulatory matters, preparation of general terms and conditions as well as issues regarding the compliance with PSD2, GDPR and AML requirements
- drafting of internal procedures and best-practice checklists for SEB Bank
- advising Swedbank in complicated debt and debtor restructuring cases and litigation
- representation of IF Insurance in third-party liability and property insurance litigation
- advising Nordea Finance on the performance of its factoring agreements
- advising Estonian energy holding company Utilitas on its syndicated loans, including 80 MEUR loan to acquire Tallinn Power Stations
With the assistance of our international partners, TRINITI is able to coordinate international consultations related to cross-border transactions and regulations (including the FCA of UK and SEC in USA) applying the “one stop shop” principle.
Chambers Europe and Legal 500 recommend TRINITI as a top-tier law firm and recognize TRINITI attorneys as recommended lawyers in the field of banking, finance and capital markets.