Vienna Insurance Group will buy 100% shares of non-life insurance company Seesam Insurance AS (including its Latvian and Lithuanian branches) from Finnish OP Financial Group. The share sale and purchase agreement was signed on 18 December 2017 and the transaction, however, is subject to the approvals of local regulatory authorities.
“Skrastiņš & Dzenis” team (Andrejs Guļajevs and Verners Skrastiņš) together with other attorneys-at-law has successfully provided legal assistance and defended former owners of Parex banka before the court of first instance. Claim was brought by two state owned companies “Reverta” and “Privatizācijas aģentūra” for recovery of compensation, contractual penalty and damages approximately amounting to 140 million EUR.
Skrastiņš & Dzenis team, headed by senior partner Verners Skrastiņš and including attorney-at-law Andra Bērzkalne, has taken part in a project aimed to the energy performance contracting (EnPC) in Latvia regarding public buildings and street lighting projects. The project’s overall objective was to design and customize a tender procedure for the public procurement, contracting, assignment, development and maintenance of energy efficiency investments in public buildings and street lighting systems.
"Skrastiņš & Dzenis" senior partner, attorney-at-law Verners Skrastiņš engaged in and represented our client in complex negotiations with AS "Prisma Latvia". The subject matter of the negotiations was early termination of the commercial premises' lease agreement, according to which AS "Prisma Latvia" rented supermarket's premises from our client, due to AS "Prisma Latvia" decision to cease its operations in Latvia. The negotiations were followed by a conclusion of mutually beneficial settlement between "Skrastiņš & Dzenis" client and AS "Prisma Latvia".
"Skrastiņš & Dzenis" has successfully represented its client in legal proceedings before the Riga District court in damages case. An action for recovery of damages in the amount of 250’000,- EUR against our client, who is a limited liability company’s former member of the board, was brought before the court by the respective company’s insolvency administrator. However, the court dismissed the action in its entirety.
Vigo Krastiņš, partner of law office “Skrastiņš & Dzenis”, has successfully conducted redress proceeding of a well-known Latvian company “VEF Radiotehnika RRR”. A court proceeding involving “VEF Radiotehnika RRR” after two years has successfully come to a close. As an outcome “VEF Radiotehnika RRR” has restored its solvency, moreover this is an outcome which majority of companies having applied for insolvency cannot achieve. At the beginning of the court proceedings the total amount of company’s obligations towards its creditors was 3.5 million EUR.
“Skrastiņš & Dzenis” attorneys-at-law have provided legal assistance and represented the client – a limited liability company, in a shareholders’ dispute regarding the legality of a shareholders’ meeting’s decision. With the particular decision, the minority shareholder’s proposal to file a motion against the member of the board was rejected. Our office’s attorneys-at-law have reached a positive outcome for our client by strengthening a position that not all shareholders’ decisions are appealable in Latvian case law.
Our office's attorneys-at-law have successfully represented the client in a challenging case in front of the Supreme Court of the Republic of Latvia against the State Revenue Service (SRS), one of the largest state institutions. SRS unlawfully revoked our client's status of a non-governmental organisation operating in the public interest. During the court proceedings the Administrative Court concluded that SRS had no legal grounds to revoke the aforementioned status of our client and the Supreme Court affirmed the Administrative court's judgement.
Partners, attorney's at law of our law office have successfully represented a well known Latvian company's interests in acquisition of a fully functional construction materials factory. Our team carried out a full legal due diligence, as well as represented the client in the transactional phase up the to the closing of the deal. The value of the transaction was more than 1million EUR.