Do you know how to apply for the state aid prescribed in the Law on Aid for the Activities of Start-up Companies? Law Office TGS Baltic, the author of the Business Manager’s Handbook, included the information on the start-up companies and the available state aid in the current supplements to the edition. The subscription edition contains comments on the requirements specified in the Law on Aid for the Activities of Start-up Companies, which should be observed by start-up companies and their investors to qualify for the state aid programmes.
One of the largest pan-Baltic law firms – Tark Grunte Sutkiene – from May 8th 2017 will be known by a new name – TGS Baltic. The new brand is being introduced after the successful merger of the leading law firms Tark Grunte Sutkiene and Varul Estonia, which will continue providing the full spectrum of commercial legal services in Lithuania, Latvia and Estonia. This identity change marks the final stage of integration for the internationally awarded pan-Baltic law teams.
“We have relentlessly aspired to justify the high expectations of our clients. Our promise to them goes beyond providing just legal advice – we help them to achieve business success, thus creating the ultimate value. Our new identity as TGS Baltic represents our enduring commitement to providing innovative solutions based on our deep business understanding and outstanding legal competences”, states Eugenija Sutkienė, Managing Partner of TGS Baltic in Lithuania.
The European Central Bank (ECB) harmonises supervision rules for institutions supervised by national competent authorities
On 4 April 2017, Guideline (EU) 2017/697 of the European Central Bank (link) and Recommendation ECB/2017/10 (link) for national competent authorities (including the Bank of Lithuania) on exercising some options and discretions available in EU legislation in relation to less significant institutions directly supervised by national competent authorities have been adopted. In the Guideline and the Recommendation, the ECB pronounces on the application of Regulation (EU) 575/2013 establishing prudential requirements for credit institutions and of other related legislation.
On 11 April 2017, “Jurista Vārds” published an article by Māra Stabulniece, Attorney from Tark Grunte Sutkiene, on the new regulation of the pre-procurement consulting. Article 18 of the Public Procurement Law contains a regulation on the pre-procurement consulting, which is new in Latvia, while it does not prescribe for the new right of customers to consult suppliers, but only set out the provisions for application of such right.
A new law regulating unpaid volunteer work has recently been adopted in Latvia. The law as originally drafted envisaged that only non-profit entities would be allowed to organize volunteer work, ie:
1. Non-profit associations and foundations (including trade unions).
2. State and municipal institutions (and political parties).
It has now been proposed that social enterprises (for-profit businesses with a social or environmental mission) be added to the list of organisations that are permitted to employ volunteers. The change is expected to come into force on 1 January 2018. Social enterprises should bear in mind that they will not be permitted to rely solely on volunteers – at least one member of staff must receive a salary.
Last week, the European Commission (EC) announced that it had imposed a fine of EUR 68 million on three companies – Campine (Belgium), Eco-Bat Technologies (U.K.) and Recylex (France) – for taking part in a cartel. The forth participant of the cartel, Johnson Controls (US), was exempted from the fine because it revealed the existence of the cartel.
Why is this EC decision relevant for other companies?
An EU Directive which has recently been implemented in Estonia aims to clarify which country’s employment laws apply when an employee is posted abroad to their employer for a temporary project.
If the laws of the country where the work is actually being carried out applied even for short stays, a company wishing to offer its services in the whole of the EU would have to be aware of 27 different sets of rules. To counter this phenomenon, the European Court of Justice developed a balancing mechanism to determine on a case by case basis which country’s rules apply in any given situation. However, this case-by-case approach has generated legal uncertainty, which this Directive was supposed to tackle.
May suspected adverse effect serve as grounds for prohibition of felling? A reply to this question is provided by Law Firm TARK GRUNTE SUTKIENE,the author of the subscriber issue, who have included a summary on the amendments to the regulatory enactments in the first supplement of this year, as well as have supplemented the issue with new knowledge of judicial practice in cases related to felling confirmations.
In one of the cases, the court assessed a dispute, where the felling certificate had been suspended after sale of the growing trees on the strain and the felling rights; while in another case, the court had opted for the nature protection requirements, when refusing the issue of felling confirmation.
Senior Associate Peeter Viirsalu became a National Correspondent for the INSOL Europe (Association of Restructuring, Insolvency & Bankruptcy Professionals) European Insolvency Regulation Case Register for Estonia.
INSOL Europe was formed in 1981 and is the European organisation of professionals who specialise in insolvency, business reconstruction and recovery.