- Latin America
- United Kingdom - Solicitors
- United Kingdom - The Bar
- United States
- What is the GC Powerlist?
- How to nominate in-house counsel
- Australia/New Zealand
- Asia Pacific
- Latin America
- Middle East
- UK Regional Powerlist
- United Kingdom
- United Kingdom - In-house Teams
- United Kingdom - Rising Stars
- United States
- United States - In-house Teams
- United States - Rising Stars
- How do the awards work?
- The Legal 500 United States Awards 2015 - In-house winners
- The Legal 500 United States Awards 2015 - Law firm winners
- The Legal 500 United States Awards 2014 - In-house winners
- The Legal 500 United States Awards 2014 - Law firm winners
- The Legal 500 United Kingdom Awards 2014
- The Legal 500 Latin America Awards (coming soon)
- The Legal 500 Germany Awards (coming soon)
- Frequently asked questions
- Business thinking
- In-house management
- Career path
- Legal perspective
- Big picture
- In discussion
- Interrogating value
- GC interviews
- Doing it differently
- What I want from my GC
- From client to colleague: Github
- Welcome to lawyerland
- Learning how to be good from the 'bad' guys
- LinkedIn's legal department
- The dark side of the moon
- In-house got talent
- The Legal 500 roundtable - Munich 2015
- GC roundtable - talent management
- GC Powerlist Brazil roundtable
- Mexico City: GC Powerlist discussion
- Corporate Counsel Summit
- GC Powerlist United States roundtable
- General Counsel: United States
- Financial litigation
- Legal Business 100 Debate
- Leveraged Finance Debate
- Legal Business Global 100 Debate
- Intellectual property: debate
- Private equity
Share this page
- Legal market overview
- Banking and finance
- Corporate and M&A
- Dispute resolution
- EU and competition
- IP, IT and telecoms
- Real estate and construction
- Shipping and transport
- Bosnia and Herzegovina
- British Virgin Islands
- Burkina Faso
- Cayman Islands
- Costa Rica
- Czech Republic
- Dominican Republic
- El Salvador
- Hong Kong
- Isle of Man
- Ivory Coast
- Latin America: International firms
- Netherlands Antilles
- New Zealand
- Saudi Arabia
- South Africa
- South Korea
- Sri Lanka
- St Barts
- St Vincent
- United Kingdom
- United Arab Emirates
- United States
Legal market overview
Despite being a European Union and euro-area member, Latvia’s relationship with the former Soviet Union countries that constitute the CIS (Commonwealth of Independent States) continues to profoundly affect the country’s economics and politics. As the NATO-member nation with the highest proportion of ethnically Russian citizens, it is monitoring the current crisis in Ukraine with understandable concern.
Notwithstanding political tensions, there remains an impressive degree of interest in the country from major Russian investors; notably, non-resident savings account for approximately 50% of bank deposits. The interest of strategic investors in local companies is also evident, particularly in the port and logistics sectors. Furthermore, legal firms report an upturn in real estate mandates due to growing interest from investors.
The imminent sale by the government of its 75% stake in Citadele Banka dominates the corporate horizon. In other sectors, the increasing ability of domestic entities to buy out foreign companies has seen local capital become more active. One interesting trend involves local and foreign capital forming joint ventures.
The beginning of 2014 saw significant amendments to the Law on Judicial Power and the Civil Procedure Law come into effect, marking the beginning of a transition to a three-level court system in Latvia.
On the merger front, the main news was the demerger in autumn 2014 of Vilgerts from Magnusson. MAQS Law Firm is now known as Njord Law Firm. In May 2015, Lawin's Riga office was renamed Klavins Ellex and became part of the new Ellex network of Baltic law firms; at the same time, Raidla Lejins & Norcous' Riga office was renamed COBALT Latvia and became part of the new COBALT network of Baltic law firms.
Legal Business: country analysis
Breaking new ground – advisers hope shale revolution can restart CEE market
Weighed down by political unrest and slowing economies, energy and infra projects look like one area to be driving
the CEE economy. Can the shale revolution power up
Click here to read the feature.
Search News and Articles
Inside this issue: Latest case law in labour matters Protection of proprietary in-terests of a company at the European Court of human rights — why not? Assessing the transfer of an undertaking NEWS – ANNOUNCEMENTS – EVENTS
The amendments made - Significant amendments to the Commercial Law regarding reorganization of companies, convening of shareholders’ meetings, as well as declaring the beneficial owners came into effect on 1 and 13 July 2011.
Legal News at Your Glance - European Union: Treaty of Lisbon signed -- Estonia: Changes in Income Tax Act -- Latvia: Latvian Supreme Court upholds restrictive doctrine of foreign state immunity -- Lithuania: Amendments in the business accounting standards
A practical insight to cross-border Corporate Tax work
This article covers two topics (1) Estonian employment contracts and their termination (2) Amendments in Law “On State Social Insurance”
Latvia: 2007 year in review.
The new Insolvency Law has come in to force as of 1st January 2008
Read entire article by clicking here...
The IMF (International Monetary Fund) approved last Friday the disbursement of around 280 Million Euros to Cyprus. The IMF praised Cyprus for the economic recovery of the island and for implementing agreed reforms. The Deputy Managing Director of the IMF David Lipton said that Cyprus continues to produce positive results and that economic and fiscal outcomes have been better than expected. Public finances exceeded targets and growth turned positive in the first quarter of 2015.
Managing partner of VEGAS LEX Alexander Sitnikov has been re-elected to the Board of Directors of the TNS Energo power utility.
Stephen Baker, senior partner at Baker & Partners, was invited as a panelist to the International Bar Association (IBA)’s Annual Anti-Corruption conference, Paris, exploring how assets can be located, preserved and recovered in corruption cases.
HaoLiWen recently has helped clients to resolve several customs classification (HS code) cases, and the clients benefits a lot in terms of import duties saves or avoidance of administrative or even criminal penalties.
The participants of a workshop on fraud risks among senior management have discussed reasons of corporate fraud, potentially fraud-conducive environments and ways to fight it.
Danos & Associates has recently established a new office in Kiev, Ukraine. We are proud of our cooperation with Lex-Liga law firm. Lex-Liga is one of the leading law firms in Ukraine. The firm offers full services in all areas of law and is based in Kiev. Lex-Liga's lawyers and staff are highly experienced and professional.
The first translation of the report Airport Competition in Europe commissioned by Airports Council International Europe (ACI EUROPE) has been officially published in Russia. The translation was initiated by the Federal Air Transport Agency (Rosaviatsia) and was carried out by VEGAS LEX law firm and the First Infrastructure Company InfraONE.
On 2 June 2015, the Russian Constitutional Court announced its resolution concerning the claim of OOO Zapolyarneft stating that environmental charges imposed on this company were disproportionate. One of the rules of the Russian Forestry Code and the Russian Government's resolution based on it were recognised as inconsistent with the Constitution.
In the elegant atmosphere of Jugoslovenska Kinoteka in Belgrade, Karanović & Nikolić hosted a celebratoin marking two decades of business operations.
All the evidence indicates that the authorities no longer view mortgage brokers as the middle man, free from all blame. As a result, brokers are increasingly finding themselves in the dock along with people who made the fraudulent mortgage applications that aroused the interest of investigators.