“The hot topic" in Lithuania at the moment, according to Gediminas Dominas, Managing Partner at Dominas & Partners, “is the merger announced last week of the Baltic operations of Nordea Bank and DNB” (as reported by CEE Legal Matters on August 25, 2016).
Otherwise, according to Dominas, the winding up of the holiday period means there’s little news of significance at the moment. Still, in general, Dominas reports, “everybody is quite busy,” in part because the “number of law firms has decreased” — he refers both Borenius’s withdrawal from the Baltics at the beginning of this year and the widely-reported consolidation of the Baltic markets as firms tie up in pan-Baltic alliances — “so there’s more room for everybody.”
“The most important recent development is the new Labor Code, which is quite liberal and modern.” The draft law passed through Parliament but was vetoed by President Dalia Grybauskaite, who expressed concern about several provisions, and sent it back to Parliament for further debate and consideration. Dominas expects the Code to be passed eventually — perhaps after the elections scheduled for mid-October. Dominas notes that “all legislation in Parliament is currently working in that context,” and suggests that, until the election, any significant legislation is unlikely to emerge. In his words, “the next two months will be a political election campaign more than law making.”
Dominas reports that the major PPP project for the operating license of the three major Lithuanian airports is generating a lot of attention, and a number of major international companies have expressed interest in the tender, which is expected to take place next year.
In “The Buzz” we interview experts on the legal industry living and working in Central and Eastern Europe to find out what’s happening in the region and what legislative/professional/cultural trends and developments they’re following closely.