The Legal 500 > Europe, Middle East & Africa > Lithuania > Banking, finance and capital markets

Cobalt's banking and finance practice is highly reputed in the private equity market, and is also particularly strong on cryptocurrency regulatory issues and initial coin offerings (ICOs). Team head Akvilė Bosaitė (who is an expert in project finance and investment funds) advised ValorPay on obtaining a payment institution licence, enabling it to offer payment services such as credit transfers and money remittances. Elijus Burgis  acted for SEB on the €80m financing for the development of the joint stock stevedoring company Klaipėdos Smeltė. Eva Suduiko is another key figure. Senior associates Aurelija Balčiūnė and Justina Milašauskienė, who advise on e-money and payment institution projects (among various other matters), are also recommended.

Ellex's practice attracts client praise for its 'deep expertise in Lithuanian banking and finance law'. The firm acts for clients on regulatory and compliance matters, as well as finance litigation. The 'experienced and client- oriented' Ieva Dosinaite jointly leads the team with Giedrius Stasevicius. Dosinaite advised Technopolis Oyj which is seeking to borrow €900 million in senior and mezzanine financing partly to refinance its current external indebtedness. Stasevicius advised LKAB Klaipedos Smelte on its third stage investments into the development and modernisation of a port terminal superstructure. LKAB signed a €80 million loan facility agreement with AB SEB Bank to finance the project. Another notable individual is associate Domantas Gudonis, who undertakes transactional work and advises on e-money and payment services.

GLIMSTEDT Bernotas & Partners' team has a wealth of experience acting for investment banks and other financial institutions, and borrowers, among other clients. Linas  Sesickas and Andrius Ivanauskas co-head the team. Sesickas is knowledgeable about credit unions, real estate finance and consumer finance matters. Ivanauskas advised Eiffel Investment Group on its investment in Blender, a consumer financing platform. Senior associate Michailas Molis acts on project finance transactions and refinancings. Senior associate Audrius Zvybas is also recommended.

Primus Derling's banking, finance and capital markets practice is noted for advising clients on bond issuances, credit financing and establishing investment funds, among many other matters. The practice is led by Robert Juodka , who is advising Rafako on the financing aspects of an international procurement for the construction of new combined heat and power plant in Vilnius. Senior associate Greta  Bagdanavičiūtė advises on financial regulatory matters.

Deloitte Legal, Professional Partnership of Advocates' practice is co-led by Tomas Davidonis and managing associate Monika Žlabienė. The firm's clients include banks, credit providers and electronic money companies. Working with Žlabienė (who heads up the technology and data practice) and Gintautas Bartkus, Davidonis is representing electronic money institution Mistertango in GDPR-related court proceedings against the State Data Protection Inspectorate; this is the first GDPR court case in Lithuania.

LEADELL Balčiūnas & Grajauskas is particularly known for its work in bankruptcy proceedings involving financial institutions. Managing partner Marius Grajauskas advised Click2Sell on regulatory compliance, which involved working with the Supervision Service of the Bank of Lithuania to ensure that the payment institution's activities were in compliance with the law. Senior associate Jurgita Najulytė is working with Grajauskas to assist various insolvent credit unions with loan portfolio transactions and bankruptcy proceedings. Lina Balčiūnė is another notable individual.

ECOVIS ProventusLaw's practice has 'unique experience of banking, finance and capital markets.' The team is led by Inga Karulaityte-Kvainauskiene, who assisted Kuan Financial with obtaining a payment institution licence to enable it to provide a money remittance service. Senior associate Linas Vidžys is 'very knowledgeable' about the regulations of financial institutions. Associate Tautvydas Užkuras is known for his work on the licensing of financial brokerage firms.

Magnusson's team is active in finance transactions, regulatory compliance matters and disputes between financial institutions and their customers. Associate Kęstutis Baranauskas, who leads the team, is advising Identifikaciniai projektai UAB (a Lithuanian provider of IT solutions to the financial sector) on the development of electronic identifying (eIDV) software which can be used worldwide by credit companies and other financial institutions. Managing partner Marius Liatukas represents clients in disputes with banks over issues such as the termination of loans and mortgages.

PwC Legal's banking and finance group is noted for its 'responsiveness and deep legal know-how'. The team is led by the 'unique' Rokas  Bukauskas, who acts for regional and international banks, payment institutions and funds, among other clients. In 2019, he assisted PlusPlus with an application for inclusion in the list of mortgage creditors in Lithuania, which is supervised by the Bank of Lithuania, and also an update of its AML compliance program. The practice group is noted for its work on cross-border regional and multinational projects.

Response's banking and finance practice has particularly strong capabilities in regulatory matters, where its team is sought out to advise on alternative financing (including crowdfunding, peer-to-peer lending), the establishment and licensing of specialised financial institutions and the purchase of loan portfolios. The 'sharp minded' Vytautas Šenavičius co-heads the team with the 'efficient and professional' Tadas Lukošius. In addition to being an expert in alternative financing, Šenavičius has expertise in restructuring portfolios of credit institutions. Lukošius is also noted for his alternative financing work. Response was founded by Vytautas Šenavičius who moved, alongside most of the team, from TVINS.

Triniti's banking and finance practice, which generates mandates from domestic and international clients, is led by Linas Sabaliauskas. Sabaliauskas is working with Giedrė Čiuladienė to advise US payment technology company Flutterwave on the legal requirements concerning companies working in the financial sector in Lithuania. Čiuladienė also has experience of capital markets work. The practice's clients include insurance companies, credit unions and start-ups.