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Practice areas

  • Tax

    Tax

    Tax, Customs

    Our tax specialists, some with prior experience of working for the tax authorities, advise and represent clients in all issues related to tax and customs law: structuring transactions, relations with tax authorities and tax disputes (i.a. tax crimes). The vast and highly recognised experience with tax disputes allows us to foresee and address the potential risks already prior to executing transactions.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Regulatory & compliance

    Regulatory & compliance

    Administrative proceedings, Consumer protection, Data protection, Energy, Sports

    Given the ever-expanding set of local and international rules and regulations which impact the daily lives of companies of all sizes, compliance has been getting more and more attention as a potential source of corporate issues. Our team of specialists has vast experience in helping our clients to understand and deal as efficiently as possible with all the rules and regulations that apply to them.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Real estate & construction

    Real estate & construction

    Construction, Zoning and planning, Infrastructure, Environment, Real estate

    Our practice includes counselling on a variety of real estate related issues: real estate development (i.a. zoning & planning, permits, infrastructure, construction contracts, financing, environment), rights and obligations stemming from ownership (e.g. co-ownership, servitudes, access roads), as well as rent and lease of immovables. International publications have, for years, recognised our professionalism in dealing with these matters.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Mergers & Acquisitions

    Mergers & Acquisitions

    Mergers & Acquisitions (M&A)

    We assist our clients in all stages of M&A transactions, i.a. negotiations, project management, structuring of the transaction, conducting legal due diligence and other preparations, execution of necessary documentation, as well as closing of transactions. We also advise our clients on creating joint ventures. Our M&A team has experience in providing practical solutions in the most complex issues. We have advised all kinds of companies and our M&A team has participated in a number of transactions in all the Baltic countries and also covering outside targets.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Medical & pharmaceuticals

    Medical & pharmaceuticals

    Health care, Medical & pharmaceuticals

    We provide legal advice and represent our clients in all matters related to pharmaceuticals, which is one of the fastest growing industries with rapidly changing rules and regulations that varies from one country to another. Our attorneys, in cooperation with medical field professionals, advise on a regular basis on the requirements for manufacturing medical products, the promotion of medical products and requirements for performance of clinical trials. We also have a comprehensive practice in representing clients in medical malpractice cases.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • IT & intellectual property

    IT & intellectual property

    Information technology, Telecommunications, Media, Intellectual property

    We keep up with the times and acknowledge the vast use of information technologies and the growing importance of intellectual property in today’s business. With individual approach and by looking from clients’ perspective, our team can provide advice on all aspects related to information technologies and intellectual property. We combine our knowledge of conventional business transactions with an in-depth understanding of the related technical aspects. Our attorneys are recognised for having experience e.g. in legal aspects of cloud computing, software licencing and patent registration.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Dispute resolution

    Dispute resolution

    Litigation, Arbitration, Alternative dispute resolution, Family and inheritance, Enforcement, White-collar crimes

    We have a comprehensive practice in litigation, arbitration, as well as out-of-court debt recovery. Our attorneys are regularly acting as arbitrators, conciliators and bankruptcy trustees. Many of our cases have principally changed the interpretation of law, being often also of interest to the general public. International publications have, for years, recognised us as among top dispute resolution firms on the market.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Corporate & commercial

    Corporate & commercial

    Corporate governance, Public procurement, Public-private partnerships, Transactions and trade, Competition, Employment, Migration, Transport

    Our group of specialists provides top-quality counselling on various aspects of corporate and commercial law: corporate governance, transactions and trade, public procurement, public-private partnerships, competition etc. Our clients range from some of the largest companies in the market to small start-ups, and thus the advised issues vary respectively. Our competence has been consistently recognized as one of the best in the market by annual international publications.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
  • Banking & finance

    Banking & finance

    Finance, Banking, Securities, Insurance, Investment, Insolvency, Debt restructuring and recovery

    We advise banks and other financial institutions in all matters related to financial transactions and supervision. International publications recognise LEADELL offices as among leading law firms in advising on debt restructuring and rescheduling. The experience gained by advising leading banks of the Baltics allows our team to adequately address the interests of all parties to a transaction, as well as requirements applicable to them. Our team is also competent in counselling on fintech matters that have arisen due to the radical changes in traditional financial services caused by digital innovations.

    Latvia

    Partners
    • Aivar Pilv
    • Pirkka-Marja Põldvere
    • Merilin Ojasaar
    • Marko Pilv
    Senior Associates
    • Ilmar-Erik Aavakivi
    • Epp Lumiste
    • Jaanus Stern
    • Oleg Matvejev
    Lawyers
    • Reelika Rohi
    • Hendrik Rätsep
    • Artur Viira
    • Kaire Sepper
    Support staff
    • Marina Pilv
    • Kristi Kirsiste
    • Ene Eesik
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Our Experience

News

Even while using a notary’s deposit, you can slip

11.11.2020LEADELL

While purchasing or selling real estate, the use of the notary deposit account usually ensures a secure transaction for both the seller and the buyer. As a practical example: the seller transfers the apartment or house only if the agreed sale price is received. The buyer in the other hand will only give up the money if he receives ownership. In the event of taking a bank loan, the part of the own contribution must be paid into the account of the notary before the transaction, the remaining part will be transferred by the bank. If the property is purchased entirely from its own funds, the entire sales price must be transferred to the respective account in advance to use the notary’s deposit.

It might become difficult to use a notary’s deposit if some of the money comes from a bank outside the European Union. In the US, for example, there are several banks with regional scopes that do not make international payments. In such situation, the American property buyer may use payment institutions to transfer money to the account of an Estonian notary’ deposit. Sometimes, while using a service like this, that the money will be received, but from the account statement you do not see a word about from whom the payment was made and to who, as well as who initiated it, etc. While the notary may presume that the money has been transferred in the buyer’s interest who has come to the notary, but there is little use in presuming while proving the notarial transaction and the transfer of the money. If the circumstances of the received payment are unclear, the notary may be obliged to inform the Financial Intelligence Unit, the notary may wish to contact both the bank and the Financial Supervision Authority to clarify the facts or seek advice. All this may take time for weeks or even months, and the real estate deal will be delayed. It is possible that several inquiries will reveal the fact that the most secure and correct way is to transfer the payment back to the original account. In that kind of situation, the seller may not want to wait and might decide in favor of another buyer. In addition, the originator of the payment must consider the additional costs of the repayment of the sum of money: each link in the chain also charges its own commission when the money is returned and for such transfers the commissions are not small. The worst-case scenario, they may amount to hundreds of euros.

What can I do to avoid such misunderstandings? The circumstances of the payment would be much clearer if early on, the foreign buyer of the immovable opens an account in a bank that operates in Estonia and transfers the money to that personal account first. If the transfer to the notary’s deposit account is made from a bank account located in Estonia, the identity of the person who is making the transfer (remitter) is automatically visible. The information referring to the transaction must also be indicated in the explanation when paying to the notary’s deposit account. To do this, it is worth asking the notary for information in advance.

When purchasing lower value property, the involvement of an attorney to advice for a notarized transaction may not justify itself economically. However, the higher the value of the property, the greater the financial and other risks for the parties. Therefore, it is certainly worth using the help of an experienced attorney while purchasing a higher value property (e.g., a house).

Ilmar- Erik Aavakivi/ LEADELL Pilv Advokaadibüroo attorney- at- law

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