Dear clients and cooperation partners,

Over the last eight years, SORAINEN has grown organically more than four times. This led us to allocate more resources to group management. Following that decision, the SORAINEN partners appointed me to the position of senior partner. In this new role, I will focus more on strategic management of SORAINEN. From January 2010, the office managing partner of SORAINEN Latvia, Pekka Puolakka, occupies the position of managing partner of the firm. Pekka will now start to focus more on operational management. The new office managing partner of SORAINEN Latvia as of January 2010 is Eva Berlaus. She will also continue heading the local M&A and Private Equity team in Latvia.

So what else has happened at SORAINEN? Last spring we received the Baltic Law Firm of the Year (2009) awards from The International Financial Law Review and PLC Which lawyer? In Estonia we also won the Best Employer Award.

Very interesting developments are now taking place in Belarus. According to IFC, Belarus has recently instituted the fourth most numerous reforms in the world. In the World Bank statistics on ease of doing business, Belarus now ranks 58th of 180 countries – up from 115th in 2007 and thus a big improvement. Among the CIS countries, Belarus suffered the least decline in its economy in 2009 and GDP grew by 0.2% in the same year. In addition, a list of several hundred companies awaits privatisation in Belarus in the near future. Meanwhile, with IMF support Belarus soon intends to set up a privatisation agency to speed up the privatisation process.

We look forward to interesting opportunities in 2010 and wish our readers success!

Aku Sorainen
Senior Partner

 
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ESTONIA
 
Pärnu mnt 15
10141 Tallinn, Estonia
phone +372 6 400 900
fax +372 6 400 901
estonia@sorainen.com
 
LATVIA
 
Kr. Valdemāra iela 21
LV-1010 Riga, Latvia
phone +371 67 365 000
fax +371 67 365 001
latvia@sorainen.com
 
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Jogailos 4
LT-01116 Vilnius, Lithuania
phone +370 52 685 040
fax +370 52 685 041
lithuania@sorainen.com
 
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ul Nemiga 40
220004 Minsk, Belarus
phone +375 17 306 2102
fax +375 17 306 2079
belarus@sorainen.com
 
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Please note that this legal update is compiled for general information purposes only, free of obligation and free of legal responsibility and liability. It does not cover all laws or reflect all changes in legislation, nor are the explanations provided exhaustive. Therefore, we recommend that you contact SORAINEN or other legal advisor for further information. The SORAINEN Legal Update is published periodically (every 4-6 months) and covers legal news of Estonia, Latvia, Lithuania, and Belarus. Electronic versions of SORAINEN Legal Updates are available and can be subscribed to on the SORAINEN website – www.sorainen.com.

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