Sorainen has advised worldwide aviation counsel Plane Business on the acquisition of an aircraft flying the Lithuanian flag. This transaction formed part of the purchase of a portfolio of 18 Embraer aircraft with an overall value of almost EUR 76 million, involving multiple overseas jurisdictions and a complex transaction structure.
Sorainen's involvement covered the review of general terms of an agreement package for aircraft under Lithuanian law, negotiating and drafting the sale-purchase agreement of an aircraft flying the Lithuanian flag, novation of the aircraft lease, and client representation at the notary office, the Lithuanian Civil Aviation Administration, and other authorities. Sorainen also ensured that the Lithuanian part of the transaction corresponded to the buyer’s interests with regard to transfer of title free of liens and with undisrupted operation of the aircraft.
The firm's team on the transaction included both Senior Associate Laura Cereskaite-Kinciuviene and Associate Vaiva Masidlauskiene.
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