Major Assignments - Real Estate & Construction

TRINITI attorneys Tõnis Tamme and Mikk Põld advised a UK-based client in a sale of restaurant premises in Tallinn Old Town.

We defended the interests of our client AB Lietuvos Radijo ir Televizijos Centras Telecentras against Darnu Group regarding the EUR 6 m real estate sale transaction. The Supreme Court of Lithuania acknowledged that the transaction was valid. Congratulations to Kęstas Žičkus and the team, who were involved in this case only in the appeal stage and ensured the victory of the client in both courts.

This lawsuit shows that real estate developers take risk of the contracts with the third parties when purchasing real estate. In the present case, the dispute arose after the National Land Service refused to lease the state own plot of land to the purchasers. After this court practice, developers will require to either structure transactions appropriately by introducing safeguards or to assess the prospects of contracts with the third parties prior to the transaction.

Additional work in the construction sector is a very common situation. Unfortunately, it is not always resolved peacefully. We congratulate our client UAB TERMOLINK and the firm’s attorney at law Artūras Vaišvila and the team for achieving the victory. They managed to prove to the court that the general contractor must pay for additional works, the performance of which has been formalized by a unilateral act.

The court argued that it is the general contractor who takes the risk that all the necessary construction works will be included in the technical project and other construction normative documents. If it is established that the constructor has carried out works that were really necessary to achieve the right result, that the results of that work are being used, that no defects in the performance of those works have been proved, the general contractor shall pay for such works.  

TRINITI advised and assisted real estate developer in erecting of commercial center and giving it to lease in Tallinn resulting in additional option for local community to do shopping close to home.

TRINITI won the dispute against the National Land Service (NLS) over the termination of state land lease. This proves once again that in disputes with NLS over the lease of state land, it is possible to achieve positive results for tenants of state land. The interests of the clients were represented by TRINITI Partner and Attorney at law Agnė Ustinovičienė and the Senior Associate Gintarė Liegutė.

Attorneys of TRINITI have advised on matters concerning anti-money laundering compliance, including companies from different sectors (from accounting providers and real estate agencies to creditors and banks). We have helped our clients to assess money laundering risks in their entities and determine risk appetite, as well as establish rules of procedure and internal control. We have consulted and represented companies also in supervisory proceedings of Financial Intelligence Unit.

Triniti advised RAFAKO S. A., a leader on the Polish power generation equipment market and the biggest boiler producer in Europe, as well as a leader within the field of flue gas desulfurization plants based on wet lime and semi-dry methods, on construction of a new combined heat and power plant in Vilnius.

TRINITI lawyers advise the Client on a daily basis with regards to the construction works. A new heat and power plant will consist of two CHP units: a waste burning unit and a biofuel burning unit. The biofuel burning equipment will be installed by Polish energy object builder Rafako for 149.65 million euros.

We advised Estonian real estate developer Helicom OÜ in acquiring an office building located in the centre of Tallinn from Seesam Insurance AS. As a result of the sale-and-lease-back transaction the fifth largest insurance company in Estonia will continue using the building. The assignment of TRINITI team included negotiation of the terms of the purchase and lease agreements and closing of the transaction

Our M&A team advises AS Amalfi, an Estonian private equity company in its acquisition of shares is Porto Franco, €160 million real estate development in Tallinn City Harbour

We advised an investment company which was founded by using Estonian capital as a basis in terms of financing a refurbishment project which was focussed on an apartment building in an environmentally-valuable area of Tallinn and in a transaction to purchase apartment ownerships which may emerge in the future in the case of an existing property being divided.