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Legal market overview

In January 2015 Lithuania became the 19th member of the euro currency union and the growth rate of the Lithuanian economy is among the fastest in the European Union; the adoption of the euro is expected to assist companies in seeking greater trading opportunities, a welcome boost given the current sanctions against Russia. Russia’s ban on EU-sourced dairy products has caused obvious difficulties for Lithuania’s sizeable agricultural sector.

For law firms, major corporate activity has revolved around the sale of assets in connection with the exits of E.ON Ruhrgas and Gazprom from the Lithuanian energy market. There have also been high-value acquisitions in the financial services sector, mainly as a result of the demise of Ukio Bank and Snoras Bankas.

The legal market is still coming to terms with the sudden merger of Baltic Legal Solutions and Tark Grunte Sutkiene. Seen by many as the natural union of firms with complementary strengths, the new firm – which keeps the name Tark Grunte Sutkiene – becomes one of the largest law firms in the market. Averus opened an office in Vilnius. In May 2015, Lawin's Vilnius office was renamed Valiunas Ellex and became part of the new Ellex network of Baltic law firms; at the same time, Raidla Lejins & Norcous' Vilnius office was renamed COBALT Lithuania and became part of the new COBALT network of Baltic law firms.


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Legal Developments worldwide

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Execution of foreign judgment in Mauritius

    Execution of foreign judgment in Mauritius - As a matter of law of evidence in Mauritius, foreign law is a matter of fact which can only be proved by expert evidence.
  • Planificación Pre-Migratoria de Impuestos – Un Enfoque Sistemático

    Para un individuo o familia de alto patrimonio neto, la decisión de emigrar a los Estados Unidos abarca el considerar serias consecuencias impositivas estadounidenses sobre ingresos y transmisiones patrimoniales. Organizar debidamente los asuntos personales, financieros y de negocios antes de emigrar a los Estados Unidos a través de la debida planificación pre-migratoria de impuestos y sucesión de herencia, es esencial para evitar algunos de los problemas que pudieran surgir como consecuencia de no haber planificado apropiadamente.
  • Atención extranjeros no residentes:Cómo hacer regalos monetarios a hijos residentes de los EEUU

    Los extranjeros no residentes de Estados Unidos frecuentemente hacen regalos monetarios a sus hijos residentes o ciudadanos de los Estados Unidos (descritos más adelante como “hijos estadounidenses”), pero pocos de ellos entienden completamente los problemas relacionados al impuesto sobre la renta y regalos monetarios hechos a individuos estadounidenses. De hecho, muchos de ellos hacen regalos tributables accidentalmente y algunas veces convierten lo que sería un regalo no tributable en renta tributable.
  • Electronic Money in Nicaragua: Amalgamating technology, law and business

    In humanity ́s never-ending quest for improvement, technology plays a significant role as to the development of tools, production of devices and equipment, the upgrading of techniques, skills and processes which, in general, lead to the accomplishment of higher and higher goals that impact or influence our lives in different ways.
  • Czech Republic: International Taxation of Athletes

    As the status of professional athletes is not regulated under Czech law, there is a need for legal interpretation on this matter. The Supreme Administrative Court has ruled that athletes' work is of such a specific nature (e.g. the method of their pay, the amount of rest and other non-compliances with the Labour Code), that it is not illegal for clubs and athletes to enter into contracts other than labour contracts. Thus, at least in terms of taxes, athletes can act as self-employed persons. read more...

    Aziz Rahman explains why the dropping of plans for an offence of failing to prevent economic crime is no excuse for making prevention a low priority.
  • Making a Tax Appeal Under New Procedures

    17 Nov 2015 at 03.25 
  • Turkey Green-Lights Comparative Advertising

    At the beginning of 2015, Turkish Ministry of Customs and Trade issued a new regulation on the principles and procedures pertaining to advertising and abrogated and replaced the outdated regulation of 2003. The regulation ended the prohibition for comparative advertising and included a provision which allows using components related to competitors' goods, trademarks, trade name and services in the advertisements. This provision will enter into force January 10, 2016. The comparative advertising by indicating the competitors' names, trademarks, logos and titles will be legal in Turkey and this may yield to brand new legal disputes between competitors regarding their advertisements.
  • Mauritius - Legal Updates

    Mauritius has a sophisticated and transparent regulatory system that is ideal for a dynamic entrepreneurial environment and to promote diversified economic growth. Its openness to investors worldwide, its geographical location as well as its membership to international organizations such as the African Union (AU), the South African Development Countries (SADC), the Common Market for Eastern and Southern Africa (COMESA) and the Commonwealth of Nations, allow Mauritius to have a preferential and secure access to a wider market.
  • New Law on Consensual Financial Restructuring

    As of 3 February 2016, the new Law on Consensual Financial Restructuring (“Law”) will introduce an improved framework for voluntary debt restructuring in Serbia (“Restructuring”). The Law was adopted as a part of a national strategy to address the increasing number of non-performing loans in the country, which was adopted in August 2015 (“Strategy”).[1] The Law will replace the existing Law on Consensual Financial Restructuring of 2011, which produced modest results in practice.

Press Releases worldwide

The latest news direct from law firms. If you would like to submit press releases for your firm, send an email request to