Banking & Finance (including private equity and investment funds)

Advising AS DNB banka in a major financial transaction with an international company.

The main external legal counsel of Danske Bank A/S Estonian branch.

The main external legal counsel of AS DNB Pank.

Advised AS DNB banka in a major financial transaction with an international company. Our advice included providing complex solutions from the drafting of the agreement until advising our client of possible solutions in the event of default by the pledgor.

Advised leading private equity firm on the complex multi-jurisdictional mezzanine financing with an aggregate loan sum of EUR 12 million provided to a group of companies active on materials industry.

GLIMSTEDT is the main external legal counsel of Danske Bank A/S Estonian branch. Our work is related mainly to several complex litigation, bankruptcy and reorganization procedures. Representation includes litigation against TD Baltic AS in a civil matter related to factoring contract, a bankruptcy proceeding of Q Vara AS (claim related to emission of bonds and assignment of claim) and reorganization process of OSAÜHING RINTEL GRUPP.

Assisted AS Talveaed in the application procedure of paying authority license. The issuance of paying authority licenses under newly harmonized European law in Estonia occurred for the first time and involved the implementation of various novel legal principles for the payment services sector. The Estonian Financial Supervision Authority issued the paying authority activity license to AS Talveaed under the Law of Paying Authorities and E-Money Institutions. Holding the license allows AS Talveaed to provide money transfer services without any volume restrictions.

GLIMSTEDT is the main external legal counsel of AS DNB Pank. Our recent work is related manly to several litigation and bankruptcy proceedings. For example, in a dispute against SILBERAUTO Ltd (official representative of Mercedes-Benz) concerning right of ownership of cars.

Represented AS SEB Pank before the Supreme Court in a complex restructuring case.

Representing Bank Saint Petersburg in matters related to recognition and enforcement of foreign judgments in Estonia and arrest of vessel m/l OMG Tosno in Tallinn, Estonia including expertise in sale of vessel in an enforcement procedure.

Representing several creditors against the Republic of Estonia and VEB Fund in an unprecedented and complex litigation - potential claim against the Republic of Estonia is EUR 60 million. The VEB Fund gathered the claims of Estonian companies against the Bank of Foreign Economics of the former Soviet Union. According to our view, the Republic of Estonia is responsible for funds which were frozen more than 17 years ago. After restoration of independence, none of the Estonian Governments has yet succeeded in bringing the topic of the VEB Fund to the negotiation table, due to the opposition of Russia. However, this may probably take place sometime in the future due to the litigation procedures.

Assisting AS EUREX CAPITAL, a financial intermediation group which started operating in 1999, and with an annual turnover that exceeds 600 million EUR.