WALLESS

This season is all about cherishing those magical moments of being together! #team #holidayseason #Latvia

Riga Tourism and Creative Industries Technical School has successfully resolved its dispute with an insurance company over insurance compensation for the non-fulfillment of first-demand guarantee obligations.   This marks a significant achievement for our client, enabling the school to redirect its focus to the extensive campus construction projects that were tied to the guarantee. The case stood out for its complexity, addressing pivotal issues in insurance law and highlighting gaps and interpretive challenges within Latvian legal regulation.   WALLESS Partner Sandis Bērtaitis and Senior Associate Artūrs Caics played a key role in guiding the client through the legal process, facilitating a favorable settlement and a successful conclusion to the dispute. #disputeresolution #settlement

DEPO DIY, the Latvian retail chain known for its extensive range of home, garden, renovation, and construction products, is set to open its second store in Estonia. The new 30,000 m² store will be located next to the Tallink Tennis Center in Lasnamäe, Tallinn, with an anticipated opening in autumn 2026. The success of DEPO’s first store in Estonia has inspired this expansion. WALLESS Partner Kristine Gaigule-Saveja, Senior Associate Margus Kõiva, and Associate Emīls Klāvs Liepiņš represented DEPO Group in construction-related matters, including the Design and Build contract process with Infortar, Estonia’s largest investment holding company. Congratulations to DEPO on further expanding its operations in Estonia! #construction #realestate

EMI Board Member Training Day – a premier event designed for board members of PSPs and other fintechs, offering a platform to gain knowledge and connect with industry leaders and subject matter experts. WALLESS Partner Joana Baublyte Kulviete and Associate Partner Simona Vosylienė will present a talk on “The Board in Action: Legal and Practical Insights”. Join WALLESS for a discussion on governance practices that promote effective decision-making and long-term success for the regulated business. Find out more and register here: https://bit.ly/3Dm4tJM Don’t miss this opportunity – we look forward to seeing you there! 

By its decision on 12 December 2024 in case No SKA-28/2024, the Senate of Republic of Latvia has suspended proceedings in the administrative case pending the interpretation of Court of Justice of the European Union. The case involves a dispute over a one-year prohibition imposed by the Civil Aviation Agency of Latvia on the applicant, preventing him from retaking the skills test required to obtain a private pilot’s license. The interpretation provided by the Court of Justice of the European Union will clarify whether this prohibition aligns with the objectives of European Union law. Once issued, the interpretation will have binding effect across all EU member states. WALLESS partner Sandis Bērtaitis represents the Ministry of Transport of the Republic of Latvia in the proceedings.   #EuropeanUnion #aviation #CourtofJustice

As Lithuania’s new Investment Account regime gears up for 2025, investors can look forward to a more balanced tax approach – only paying once they actually withdraw their returns. While this promises smoother reporting and fewer timing mismatches, several points still need clarification. Much depends on the final guidelines, which remain forthcoming. As WALLESS Partner dr. Mindaugas Lukas recently noted in Verslo žinios, everyone’s waiting to see how this will work in practice. In the meantime, we’re keeping a close watch on how these rules might ultimately influence the investment landscape. Find the full article (in Lithuanian): https://shorturl.at/GzSvB #WallessTax #tax #investment

Good news for the Baltic retail market – the sale of IKEA store operators in Lithuania, Latvia, and Estonia has been successfully completed. This deal opens new opportunities for growth, innovation, and operational synergies. We had the pleasure of supporting FE CORPORATION B.V., the sellers of the Lithuanian store operator. WALLESS team, led by Partner Gediminas Reciunas, worked alongside advisors from across the Baltics and the Netherlands to ensure a smooth and successful process. Congratulations to everyone who made this possible! Find more here: https://bit.ly/4gAR66X #deal #retail #market #legal

There’s nothing quite like the feeling of being part of something meaningful – a united team, ambitious dreams, and real results! #Team #TeamMoments #TeamAdventure #Lithuania

Say hello to Agneta Skardžiuvienė, the newest Expert at WALLESS! Agneta joins our Competition and Regulatory group with a talent for turning complex legal challenges into strategic solutions. With years of experience in law, public administration, and strategic management, she has an ability to connect the dots between the needs of the private and public sectors. Her superpower lies in managing legislative processes, crafting legal acts, and representing clients with professionalism and integrity. Welcome to WALLESS, Agneta – we are excited to have you on board! Get to know more about Agneta here: https://bit.ly/4ggsujZ  

Did you know that only up to €2,500 of the total value of gifts received from strangers (including Santa Claus) in a calendar year are tax-exempt in Lithuania? And Santa Claus will not be withholding anything, so you’re paying all your taxes yourself. On the other hand, you are safe if it’s your mom, dad, sibling, grandchildren, or grandparents – all covered by unlimited exemption. Nevertheless, do not let taxes interfere with the holiday spirit and challenge your belief in miracles! #WallessTaxCookies #tax #gift #Lithuania