Sorainen is assisting Latectus, a subsidiary of a leading bank in Latvia, with structuring and developing an auction procedure for sale of its real estate portfolio in Latvia and Lithuania. At the first stage Sorainen prepared a memo on the legal framework and at the second stage we drafted auction rules and a template sale agreement.

The matter is notable because as a private auction it is an unusual type of transaction for sale of real estate in the market. This matter covered not only legal aspects of the real estate sale transaction, but also other fields such as consumer protection, AML and others.

The client was advised by partner Lelde Laviòa, with associates Andris Vilisons and Zane Akermane.