The Legal 500

Lawin is a dominant force in all banking areas. Giedrius Stasevicius is ‘one of the most experienced capital markets lawyers in Lithuania’ and, together with practice head Gediminas Reciunas, ‘raises the standards of legal services’ which are ‘beyond expectations unceasingly’. Cutting-edge work in 2010 included representing the government in its $1.5bn and $2bn Eurobond issues, the country’s largest ever debt issue.

Raidla Lejins & Norcous had a busy 2010 advising substantial borrowers and creditors on significant loan restructuring or refinance. It acted for new client Vetruna and private investors as shareholders of the owners of Vilnius Business Harbour, in the restructuring of a €53m loan portfolio. The ERBD is a major client. Managing partner Irmantas Norkus heads the practice and is ‘a business adviser in addition to a practical lawyer’.

A strong team at Sorainen provides ‘an exceptional service’ and includes pan-Baltic practice head, Toomas Kontautas, managing partner Kestutis Adamonis and newly promoted partner Algirdas Pekšys, former corporate counsel at the Vilnius Stock Exchange. The firm advises a host of international and local banks, such as Citigroup, SEB and JPMorgan Chase, acting for the former on the $1.5bn note issue by the state government, the largest securities offering in Lithuania.

Law Firm Bernotas & Dominas Glimstedt has a strong presence in the finance arena, advising on both the borrower and lender side. Recent mandates include acting for Deutsche Pfandbriefbank on the extension of a multimillion-euro credit facility for Mulga, which owns the capital city’s Babilonas shopping centre. Gediminas Dominas is a widely admired practitioner with a strong following.

Eversheds Saladžius provides ‘a very high level of service’ and is the only international firm present in the Baltics, attracting a substantial client base of multinationals and leading foreign banks, including ABM AMRO, DnB Nord Bank and HSBC, while domestic banks include Parex Bank. Managing partner Jonas Saladžius led advice to the latter concerning its disposal, a leading deal in the banking sector during the past year.

The newly merged Tark Grunte Sutkiene provides ‘good, business-minded and practical advice’ and benefits from established banking and finance expertise in group head Vilius Bernotonis. Instructions included acting for the European Investment Bank, following a competitive tender, on the implementation of EU financial engineering instruments. Swedbank and SEB are clients.

Banking clients at VARUL include Nordea Bank Finland and SEB, advising the latter on debt structuring issues among other matters. The well-resourced team is advising the state and municipal governments on the PPP for a new national stadium via public and leveraged financing. Managing partner Robert Juodka heads the practice and is ‘constructive and effective (together with his team)’.

Balciunas & Grajauskas has a highly focused banking and finance practice led by managing partner Marius Grajauskas, former in-house counsel at several banks. Grajauskas is ‘a business-orientated lawyer’ with ‘excellent negotiating skills’, who advised Danske Bank on a €15m bond issue. The firm also acts for SEB, and is representing it on the bankruptcy proceedings of a significant debtor.

Baltic Legal Solutions Lithuania augmented resources through its recent merger, fielding an experienced team in managing partner Gytis Kaminskas, Gintautas Bartkus and other partners. Snoras Bank is a key client, while the firm acts for Nordea Bank Lithuania in contentious matters.

Banking and finance is not a major area of focus at Attorneys at Law Borenius, but the firm nevertheless has capability, particularly in Tomas Rymeikis. Clients include Nordea Bank, and Iceland’s Kaupthing Bank, which the firm advised on security issues for loans to a Lithuanian entity.

The practice at Motieka & Audzevicius is now partner-led, following the promotion of Giedrius Kolesnikovas, who is ‘particularly good in debt instruments and fund structuring’. Although litigation is the core strength of the firm, it has significant non-contentious capability, acting for Credit Suisse on the financing of Vilnius Municipality’s €250m loan portfolio.

Sarka, Sabaliauskas, Jankauskas handles banking and finance matters as part of its core corporate practice. Linas Sabaliauskas led advice to real estate development company Ranga IV Investicijos on its debt restructuring with Parex Bank, amounting to €37m. Latvian bank Trasta Komercbanka is also a client.