Legal acts

The amendments of the Law on Companies about reorganization

Aivaras Aleksiejevas's picture

In 2008-11-11 new amendments of the Law on Companies of Republic of Lithuania have been approved. The main changes are discussed here.

 

Firstly, the general provision that the terms of reorganization of the limited liability companies being reorganized must be evaluated by firms of auditors has now new exception – if all shareholders who are entitled to vote agree that the terms of reorganization should not be evaluated by firms of auditors.

Rules of Alternative market

Aivaras Aleksiejevas's picture

In 2007-11-15 Lithuanian Securities Commission agreed on the Rules of Alternative securities market First North in Lithuania. Not receiving Lithuanian Securities Commission agreement was mainly the reason Alternative market did not opened in summer. Now only Vilnius Stock Exchange, which will operate Alternative market, determines when this market is opened. Certainly, the fact that this market is opened does not mean to investor anything. The main thing is whether there is companies listing on Alternative market.

For example, there is no companies listing on Alternative market in Latvia, though the market is opened since 2007-06-01.

Law on Collective Investment Undertakings

Aivaras Aleksiejevas's picture

In 2007-10-25 the new amendment of the Law on Collective Investment Undertakings has been approved. The main innovation of the new edition is possibility to establish private equity, real estate, hedge funds and other specialized collective investment undertakings. Close-ended collective investment undertakings will also be possible. The law will come into force in 2008-03-01.

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Attorney at Law Aivaras Aleksiejevas
 e-mail: aivaras.aleksiejevas@aginvest.eu
 tel. +370 685 31924

Attorney at Law Mindaugas Gedeikis
 e-mail: mindaugas.gedeikis@aginvest.eu
 tel. +370 685 31925

Attorney at Law Lina Urbanavičienė
 e-mail: lina.urbanaviciene@aginvest.eu
 tel. +370 650 34204

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