TerraLex is pleased to announce that the firm of Glimstedt and Partners (www.glimstedt.lv)  has become the TerraLex Member for the Republic of Latvia. Glimstedt and Partners is among the major law firms in Latvia and has a comprehensive practice providing legal counsel to foreign and domestic companies in a broad range of business activities.

Glimstedt and Partners has more than twenty lawyers, each with experience and expertise in one or more fields of business law. The firm’s practice covers: company and commercial law; banking and finance; M&A; competition law; privatization; insolvency and business restructuring; IP; telecommunications and IT; advertising and media; insurance; litigation, arbitration, and dispute resolution; real estate and construction; international trade and transportation; and labor law.

Recent high-profile projects include advising the Financial and Capital Market Commission of Latvia with regard to the government takeover of one of the largest banks in Latvia, the purchase by a Swedish company from the Harvard Endowment Fund of an investment portfolio containing the largest forest holdings in Latvia (3,000 properties), and representing foreign firms in their acquisition or potential acquisition of major insurance, pharmaceutical, asset management, and ISP companies in Latvia.

The Republic of Latvia, a member of the European Union, the WTO, and NATO, has a population of 2,250,000, and a GDP of approximately $40 billion. Latvia is located on the ice-free coast of the Baltic Sea, a crossroads between Europe and Russia. Major industries in Latvia include lumber, financial services, transport, manufacturing, hi-tech and tourism. Since 2000 Latvia has had, until recently, the highest GDP growth rate in Europe. The country has not, however,  been immune to recent economic trends, and is currently experiencing a recession. A group led by the IMF and the EU has made funding available to support Latvia’s plan to stabilized its economy.

The contact information for Glimstedt and Partners is:

Glimstedt and Partners

Gertrudes Street 10/12

Riga, LV-1010, Latvia

Tel. +371 6 780 33 80

Fax +371 6 780 33 81

Our primary contact person at Glimstedt and Partners will be Eriks Blumbergs (eriks.blumbergs@glimstedt.lv).

Please join us in welcoming Eriks and his colleagues to TerraLex.