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Ellex

JOGAILOS 9, 01116 VILNIUS, LITHUANIA
Tel:
Work +370 5 268 1888
Fax:
Fax +370 5 212 5591
Email:
Web:
www.ellex.lt
Riga, Tallinn, Vilnius

Lithuania

Banking, finance and capital markets
Banking, finance and capital markets - ranked: tier 1

Ellex

Ellex offers an outstanding breadth of expertise across banking, capital markets and funds. Gediminas Rečiūnas and senior associate Ausra Brazauskiene advised the EIB on the €50m financing of the Vilnius urban infrastructure project. Joana Baublytė-Kulviete, alongside senior associate Laurynas Narvydas, advised a consortium of international banks on the issuance of €450m of notes under the government’s EMTN programme; the issue was consolidated to form 20-year eurobonds.

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Commercial, corporate and M&A
Commercial, corporate and M&A - ranked: tier 1

Ellex

‘Highly skilled negotiator’ Dovilė Burgienė heads the group at Ellex and led the team advising Rimi Lietuva on its acquisition of Palink from a consortium of shareholders. Žilvinas Zinkevičius assisted Dutch investment company AE Fund Management on the sale of shares in Pamario jegainiu energija to an investment vehicle owned by Ikea. Head of the private equity and venture capital group Robertas Čiočys is ‘admired for his ability to control risks’ and managing partner Rolandas Valiūnas, Ramūnas Petravičius and Povilas Žukauskas are well-respected practitioners. Paulius Gruodis joined the team from Glimstedt Bernotas & Partners.

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Dispute resolution
Dispute resolution - ranked: tier 1

Ellex

Ellex is considered ‘one of the strongest in the country’ for cross-border disputes and arbitration. The practice, led by ‘strategic’ department head Vilija Vaitkutė-Pavan and supported by former Supreme Court judge Egidijus Baranauskas, acted for Orlen Lietuva in a multimillion-euro dispute against Lithuanian Railways; the former sought to recover overpayments for the carriage of goods. Associate partner Miroslav Nosevič excels in contentious banking and finance mandates (including for new client East Capital), and the ‘effective yet understanding’ Darius Bugailiškis and senior associate Giedrė Aukštuolienė are well regarded.

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EU and competition
EU and competition - ranked: tier 1

Ellex

Noted for its ‘exceptional level of knowledge and expertise in the field’, Ellex’s team has been active in private enforcement disputes, state aid cases and Lithuanian Competition Council (LCC) investigations. Practice head Marius Juonys is assisting Rimi with a merger control case before the LCC following its acquisition of a competing network of retail stores. Jaunius Gumbis and associate Karolis Kačerauskas are highly respected practitioners; the former is representing the Lithuanian Basketball Federation in a case against two clubs arising from its decision (following a FIBA Europe ruling) to suspend teams that play in the EuroLeague competition. Senior associates Paulius Mencas and Ilona Jančiauskaitė are also recommended.

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Marius Juonys - Ellex

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Employment
Employment - ranked: tier 1

Ellex

Ellex handles a comprehensive range of employment matters, including dismissals, litigation, high-profile legislative advice and employee transfers following cross-border transactions; team head Ramūnas Petravičius and labour law expert Rimantas Stanevičius assisted Sicor Biotech with employee transfers after part of Allergan’s business was sold to Teva. The practice also acts for employers such as Michael Kors, Barclays and Bloomberg.

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Intellectual property
Intellectual property - ranked: tier 1

Ellex

As a key name in the market for IP litigation, Ellex’s recent work includes representing basketball club Kauno Zalgiris in a trade mark dispute against football club Vilniaus Zalgiris relating to the use of the name ‘Zalgiris’; acting for Akzo Nobel in two cross-border trade mark disputes; and defending Telia Lietuva in a blocking injunction. Vytautas Mizaras heads the group, which also includes Jaunius Gumbis and senior associate Mantas Rimkevičius.

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Mantas Rimkevičius - Ellex

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Projects and energy
Projects and energy - ranked: tier 1

Ellex

Ellex’s three-pronged practice has strengths in LNG and electricity projects, commercial energy transactions and regulatory issues governing heating and natural gas. Dovilė Greblikienė heads the energy group and advises Veolia and its various subsidiaries on heating lease argeements and regulatory investigations. Specialising in infrastructure projects, Ramūnas Petravičius is involved in a gas transmission project between Poland and Lithuania. Jaunius Gumbis heads the regulatory industries and trade practice.

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Real estate and construction
Real estate and construction - ranked: tier 1

Ellex

Ellex handles a range of heavyweight deals, and is a popular choice for private equity real estate investors and REITs. Indrė Jonaitytė-Gricė advised Baltic Retail Properties on selling 70% of its Latvian and Estonian asset pool to W. P. Carey as part of a sale and leaseback transaction. Practice head Tomas Milašauskas, Jonaitytė-Gricė and Evaldas Klimas advised Lords LB Asset Managent on the sale of a 13,600m² shopping centre in Kaunas. Milašauskas also advised Eastnine on the development of a high-rise office block in Vilnius, the majority of which will be leased to Swedbank.

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Next generation lawyers

Evaldas Klimas - Ellex

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Shipping and transport
Shipping and transport - ranked: tier 1

Ellex

Ellex’s transport practice has particular strengths in aviation and rail matters. Recent work in the rail sector includes Vilija Vaitkute Pavan representing AB Orlen in an arbitration with the Lithuanian state rail operator regarding alleged overcharging for transported goods, and Ramaunas Petravicius advising RB Rail on the ongoing Rail Baltica megaproject. Divuke Greblikiene and Laura Ziferman made partner; Ziferman advised the Lithuanian government on a concession process for operating and maintaining Vilnius, Kaunas and Palanga airports. Gediminas Reciunas also handles transactional aviation work. Vaitkute Pavan is a name to note for shipbuilding disputes.

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TMT
TMT - ranked: tier 1

Ellex

Ellex is most often instructed by major international media, software and telecoms companies in connection with corporate transactions, cyber-security and data sharing issues. The team also has experience of car connectivity programmes and took on a number of junior lawyers with data protection expertise in 2017. Jaunius Gumbis, Tomas Kamblevičius and Vytautas Mizaras are the names to note.

Leading individuals

Jaunius Gumbis - Ellex

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Tax
Tax - ranked: tier 1

Ellex

Ellex stands out for its experience in corporate structures involving international taxation and identifying potential cross-border tax risks. Aistė Medelienė represented SEB bankas in a dispute before the CJEU concerning domestic thin-capitalisation rules and VAT deductions. The team, which includes senior assiociates Mindaugas Lukas and Antanas Butrimas, has also been involved in structuring a number of cross-border and heavily regulated corporate transactions. Gintaras Balčius is another key contact.

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Legal Developments by:
Ellex

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  • AVELLUM advised largest Ukrainian brick manufacturer on restructuring and refinancing of its debt

    AVELLUM acted as the Ukrainian legal counsel to Private Joint Stock Company with Foreign Investments “Slobozhanska Budivelna Keramika” (“SBK ”) in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR20 million. Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the debt’s refinancing, and buy-out of SBK’s shares.
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    AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the USD2 billion sovereign Eurobond issue consisting of two tranches with 5.5 and 10-year tenor. J.P. Morgan Securities, Goldman Sachs, BNP Paribas, and Citigroup acted as joint lead managers on the transaction.
  • New Anti-Money Laundering Law

    The new anti-money laundering ( AML ) law of the UAE took effect at the end of October 2018. Containing features recommended by the Financial Action Task Force ( FATF ), the new law introduces subtle but important changes to the AML landscape in the UAE. 
  • Confidentiality Under Renewed Focus

    The UAE federal government has recently issued a raft of important legislation, addressing and in many ways updating areas of law that are key to businesses in the jurisdiction. Amongst this legislation is Federal Decree-Law 14 of 2018 concerning the central bank and the organisation of financial institutions and activities (the New Banking Law ) and Federal Decree-Law 20 of 2018 concerning anti-money laundering and anti-terrorism financing (the New AML Law ). Both the New Banking Law and the New AML Law repeal and replace the previous legislation on their respective subjects. Importantly, the New Banking Law and the New AML Law have together enhanced the protection afforded to confidential information under UAE law, in particular where financial and legal service providers and their customers and clients are concerned. 
  • Israel Chapter in The Virtual Currency Regulation Review

    Earlier this year, the Israel Tax Authority (ITA) issued two circulars, one on the taxation of digital tokens and the second addressing the taxation of utility tokens in initial coin offerings (ICOs). Additionally, in March, the Israel Securities Authority (ISA) released a detailed interim report by the Committee for the Regulation of Public Offerings of Decentralized Cryptocurrency Coins (Report) (with a follow-up report due to come out around October 2018). Moreover, it is expected that before the end of 2018, legislation will come into force that for the first time will see Israeli primary legislation define virtual currencies as financial assets and mandate licensing for related services, as is later discussed in detail.