Category: News

2018

The Telders Moot Court Competition is one of the most prestigious and historic International law moot court competitions in the world. The competition connects almost 40 universities in Europe with only one team from each country being allowed to participate in the final rounds. The competition is organized by the Leiden University in the Netherlands.

This year’s Telders competition was the 41st edition of the competition which has been held each year since 1977. The final rounds took place in the Hague from the 24th of May to the 26th of May with the grand finals being held in the Peace Palace of the Hague. A total of 23 teams participated in this year’s competition.

The Estonian team achieved a superb 8th place in the overall rankings. Both the applicants and respondents ranked in the top 10 in their respective categories. The winner of this year’s edition was the University of Cologne.

Estonia was represented by the team from the University of Tartu which consisted of Gerda Raag, Hanna Esko, Stella Raudsepp and Tiit-Gregor Mets. Taavi Kõiv from TARK was one of the coaches of this year’s team. TARK was also one of the team’s sponsors.

2018

TARK advised ESTO AS and its founders on a financing round of acquiring new capital to the company, whereby new investors agreed to finance the growth of the company and acquired shareholding in the company (subject to Estonian Financial Authority approval). ESTO AS is a new age company focused on providing innovative hire-purchase loans.

TARK team was led by partner Hannes Küün.

2018

International independent reputable edition The Legal 500 has published its legal market rankings for the year 2018.

The Legal 500 recognized Law Office TARK in all nine ratable categories granting the highest 1st ranking to our work in Tax Law practice. The following seven attorneys of our law firm Aare Tark, Marit Savi, Hannes Küün, Tanel Tark, Allar Aru, Tauno Tark and Tanel Küün were highlighted by name.

For 29 years, The Legal 500 has been analyzing the capabilities of law firms across the world. Its rankings are based on a series of criteria, but more simply put, it highlights the practice area teams who are providing the most cutting edge and innovative advice to corporate counsel. The research of The Legal 500  is based on feedback from 300,000 clients worldwide, submissions from law firms and interviews with leading private practice lawyers, and a team of researchers who have unrivalled experience in the legal market. In Estonia The Legal 500 research for the year 2018 was carried out in nine different areas of legal practice.

Law Office TARK merits the highest ranking in Tax Law practice, led by the partners Allar Aru and Hannes Küün, who was also named a new generation lawyer.

In the Dispute Resolution area managing partner Aare Tark, partners Allar Aru and Tauno Tark were highly recognized, among others Aare Tark was named as a leading individual in this area in Estonia and Tauno Tark a new generation lawyer.

In the area of Corporate and M&A high ranking was awarded to partners Marit Savi, Hannes Küün and Tanel Küün. Marit Savi and Hannes Küün were named as a leading individuals in this area in Estonia.

In the field of Real Estate and Construction, partners Tanel Tark and Allar Aru were highlighted. Partner Tanel Küün was named a new generation lawyer in this area.

In the Shipping and Transportation area, managing partner Aare Tark and partner Tanel Küün were highlighted.

In the field of Intellectual Property, Information Technology and Telecommunication partner Tanel Tark was recognized.

In the area of Employment partners Hannes Küün, Tauno Tark and Tanel Tark were pointed out.

In the area of European Law and Competition Law partners Tanel Tark and Tauno Tark were recognized.

Partners Allar Aru and Tanel Küün were recognized in the Banking and Finance practice area. Tanel Küün was named a new generation lawyer.

The attorneys of Law Office TARK have been nominated in The Legal 500 for more than 20 years.

2018

On the 15th of February 2018 Adven Estonia and Alexela concluded a transaction whereby Alexela bought Adven Estonia’s natural gas portfolio and Adven Estonia acquired Gaasienergia AS and its gas distribution network from Alexela.

The transaction will allow both companies to develop their core businesses as it significantly increases Alexela’s natural gas customer base and lengthens Adven Estonia’s gas distribution network by almost 65 kilometers.

“We want to offer our customers complete energy solutions. The expansion of our natural gas portfolio enables us to be a good business partner to a larger amount of clients. With this transaction we are also leaving the natural gas distribution business, which is no longer the focus of the company. Success in this business is achieved through scale effect and a company the size of Gaasienergia AS cannot achieve success on its own.” Maria Helbing, the chairman of the management board of Alexela Energy commented.

The chairman of the management board of Adven Estonia said the following of the transaction: “As the second largest provider of natural gas distribution services in Estonia, Adven has always been open to expanding its service area. Today we managed to increase the distribution network by almost one third. In the distribution business the scale effect is important because it allows for greater effectiveness, which in turn allows the company to provide a more competitive service to its customers.”

TARK assisted Adven Estonia with the share purchase agreement, and also with competition and regulatory matters. Adven Estonia was advised by partners Hannes Küün and Tanel Tark.

2018

Vienna Insurance Group AG Wiener Versicherung Gruppe will buy 100% shares of non-life insurance company Seesam Insurance AS (including its Latvian and Lithuanian branches) from Finnish OP Financial Group. The share sale purchase agreement was signed on 18 December 2017 and the transaction is currently subject to the approvals of local regulatory authorities.

Vienna Insurance Group is one of the largest listed international insurance groups in Central and Eastern Europe . The group, headquartered in Vienna, operates around 50 insurance companies in 25 countries, has around 25,000 employees and its shares are listed on Vienna Stock Exchange and Prague Stock Exchange.

Seesam was founded in 1991 in Estonia and currently is operating via its branches and offices also in Latvia and Lithuania. Seesam is one of a leading insurance company in the Baltics, having more than 200,000 customers, over 350 employees and is reporting gross written premiums exceeding EUR 60 million annually.

Seesam’s parent undertaking, OP Financial Group, is Finland’s largest financial services group. OP offers diverse banking, asset management and insurance services to companies and private persons. The Group includes 180 member banks, over 4 million clients and nearly 12,000 employees.

TARK team advised Vienna Insurance Group on the purchase of Seesam, whereby the project was led by partners Hannes Küün and Tanel Tark. In addition, the Estonian team also included partners Allar Aru, Marit Savi and Tanel Küün.

In Latvia the client was advised by Skrastiņš & Dzenis, led by partners Aivis Dzenis and Verners Skrastins and included Evija Ābele and Dace Kintere.

In Lithuania the client was advised by Motieka & Audzevicius led by partner Giedrius Kolesnikovas and included Michail Parchimovic, Sigita Adomaityte, Rokas Jankus, and Martynas Bendikas.

In Finland the client was advised by Krogerus Attorneys, led by partner Sami Laine.

2018

TARK successfully represented its client in a dispute regarding the validity of a lease contract and the right of use of an immovable. The court proceedings was another fine example of a situation where an investor aqcuires an immovable in Estonia, and the person residing in the premises so far decides not to transfer the possession of the immovable to the new owner. The case that went through 3 stages of court proceedings, finally fully recognised the claim that was presented by TARK and the unlawful possessor was forced to vacate the premises at once.

The client was represented in court by TARK’s partners Tauno Tark and Hannes Küün.

2017

At the invitation of Estonian Hotel and Restaurant Association Marit Savi and Tanel Tark carried out two training sessions to hotels and restaurants, introducing the main changes and impacts of the GDPR to accommodation businesses. Given the volume of personal data handed over to hotels on daily basis, the hotel industry has been recorded as one of the most vulnerable to data breaches. GDPR aims to strengthen data protection for individuals in the EU and with the GDPR enforcing deadline coming closer, hotels are urged to review and renew their data protection processes.

2017

TARK advised VAKLAK OÜ (Vaklak), which is owned by Austrian investors in the acquisition of 100% shares of Torma Põllumajandusosaühing (Torma) by way of targeted auction. Vaklak group consists of companies active in mixed agriculture, farming of milk cattle and crop and Vaklak group is among the biggest agricultural companies in Estonia.

TARK team advising the transaction included partners Allar Aru, Tanel Tark and senior associate Tanel Küün who advised the client in preparation of the transaction, drafting of the documents and in negotiations and in the process of concentration control by the Estonian Competition Authority.

2017

On 31st October until 2nd November 2017 the Estonian President’s official state visit to Georgia took place. The Estonian President met with the President of Georgia, Giorgi Margvelashvili, Georgia’s Prime Minister Giorgi Kvirikashvili and other members and representatives of the government.

President Kersti Kaljulaid was accompanied by a prominent business delegation with over 30 Estonian entrepreneurs. Aare Tark, managing partner at TARK law office, also participated in the state visit as part of the delegation.

The Georgian Chamber of Commerce and Industry held a number of business-oriented meetings with local enterprises. Over 80 Georgian business representatives shared their thoughts with the Estonian delegation, realizing mutual investment interests.

Many Estonian ministers, Members of Parliament, the Commander of the Defense Forces, Chancellors of Ministries and other officials also attended the state visit.

Photos: Mattias Tammet, the Office of the President