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Latvia: New restrictions in the Commercial Law with respect to the transactions with related parties

Internet magazine ITiesības in its 22 August 2017 issue published an article by TGS Baltic lawyer Reinis Grunte on the new restrictions to the Commercial Law with respect to the transactions with related parties.

Amendments to the Commercial Law, which came into force on 13 July 2017, prescribe for essential changes to the transactions with related parties. The new amendments are meant for strengthening the protection of minority shareholders, as well as ensuring transparency in the conclusion of transactions by companies.

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