The Lithuanian legal market saw a significant shake-up with the departure of five partners from Baltic powerhouse Ellex, who terminated their partnership in order to create new generation firm WALLESS Burgienė, Rečiūnas and partners, which began operations in January 2019.
Other spin-off firms include WINT Law Firm, which was formed by three former TGS Baltic partners. New strategic alliances between Primus, Attorneys at Law and Estonia’s Dominas Derling also took shape, creating Primus Derling. However, the merger trend is expected to slow down in the coming months. Large, regional firms such as Cobalt and Sorainen remain the key names to note.
The country remains a fintech-friendly jurisdiction and the economy has stabilised, generating interest from foreign investors, including those from the UK seeking alternative plans after Brexit.