SORAINEN Lithuania advised major Lithuanian telecommunications company Tele2 on obtaining limited electronic money institution licensing, which allows provision of payment services and issue of e-money in Lithuania. Tele2 became the first telecommunications company in Lithuania to obtain an electronic money institution licence along with the right to provide a much wider range of payment services, […]
SORAINEN Lithuania advised the very first Lithuanian payment initiation service provider, Mistertango, on providing payment initiation services in an unregulated market. On 8 October 2015 the European Parliament voted to pass the revised Directive on Payment Services (the PSD2). However, the PSD2 has not yet been implemented in Lithuanian legislation so that some legal uncertainty […]
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On 28 January 2016, partner Rûdolfs Eòìelis presented a guest lecture at the Riga Graduate School of Law (RGSL). The lecture focussed on bank restructurings and was part of the RGSL’s course on Banking and Securities Law. Together with the SORAINEN Banking and Finance team, Rûdolfs has been involved in the restructuring of Parex banka […]
SORAINEN advised major Lithuanian credit union Mano Unija on structuring the financing of business loans already issued by Mano Unija through Latvian peer-to-peer lending marketplace Mintos. Mano Unija will place on the Mintos platform its business loans secured by mortgage and borrower guarantees. Business loans will be from EUR 10,000 to EUR 100,000, with repayment […]
Sorainen Belarus acted as local counsel for the International Finance Corporation (IFC) on the extension of a EUR 15 million loan to the Alutech Group of Companies (Alutech Group) to refinance short-term bridging loans for capital investment during 2013-2014. The project is aimed at supporting Alutech Group expansion plans, further market penetration and broader product […]
