Insights

Legal Unexpected situations in the business world, with no quick solutions

As in life itself, the unexpected often strikes in the business world. The article deals with one such scenario that many probably have never thought of.

Eliis Talisainen

| 6 min read | 09 Feb 2024

Case study We helped strengthen the cooperation between two large chemical companies

In 2023, the German family company Bodo Möller Chemie bought the distribution rights of the brands Loctite, Teroson and Technomelt from Henkel and established a subsidiary Bodo Möller Chemie Baltics OÜ to deal with the resale of Henkel's adhesives and sealants in the Baltics. The founding of the subsidiary was advised by Grant Thornton Baltic.

2 min read | 26 Jan 2024

Information security Grant Thornton Baltic attains ISO 27001:2022 certificate for Information Security Management System

In November 2023, Grant Thornton Baltic was certified with ISO 27001:2022 by Bureau Veritas, confirming that we identify, assess and manage security risks relating to information systems on an ongoing basis and in accordance with the requirements outlined.

Less than a minute | 13 Dec 2023

Anastassia Volmerson Grant Thornton Baltic

Labour law The most important changes in labour law in 2024

From 01.01.2024, the Employment Contract Act will undergo several changes in the wording of the provisions, which are due to changes in the Family Act.

4 min read | 16 Nov 2023

Mergers & Acquisitions We advised the management of Kiwa

Grant Thornton Baltic's consulting team advised the management of Inspecta Estonia OÜ on the acquisition of Metrex Mõõtekeskus OÜ.

1 min read | 20 Sep 2023

Mergers & acquisitions We advised Sirowa on the acquisition of a competitor

International wholesaler of cosmetics, perfumes, salon products and non-prescription medicines Sirowa acquired well-known Estonian wholesaler of perfumery and beauty products.

2 min read | 20 Sep 2023

Labor law Changes to sickness benefit, working time and minimum wage

A number of changes will soon take place in labour law, with direct implications for everyday life in the workplace. The changes pertain to employees’ rights and benefits.

4 min read | 09 Jun 2023

Legal Amendment to the minimum share capital requirement in the Commercial Code: an apparent cause for cheer but practical concerns remain

On 1 February 2023, the new Commercial Register Act entered into force, ushering in significant changes to the Commercial Code and other laws regulating the activities of corporate entities. Among other things, the changes also concern the net asset requirement, related to one of the major changes – the removal of the requirement of minimum share capital for private limited companies.

Uljana Feldman

| 5 min read | 22 May 2023

Merli Kesküla ja Anastassia Volmerson Grant Thornton Baltic

Labor law The compensation system set forth in the Employment Contracts Act got overhauled

The Employment Contracts Act provides for compensation for both employees and employers in a number of situations. In Supreme Court practice, the compensation has been viewed as indemnifying a loss, and as such, both parties have to prove that they incurred losses.

Merli Kesküla

| 5 min read | 04 May 2023

Transaction advisory We advised OÜ Rannu Seeme in the transaction of the exit of a shareholder

Grant Thornton Baltic's transaction advisory team helped OÜ Rannu Seeme develop the conditions for the exit of the partner, including advising on the execution and formalization of the transaction.

1 min read | 21 Dec 2022

Labor law Let the coconuts fall where they will. Remote work is now more precisely regulated

With everything else that is happening in the world, the pandemic era is starting to fade from memory. But remote working is here to stay. That is borne out by the new Occupational Healthcare and Safety Act that entered into force on 19 November 2022, which lays down a more specific framework for employee and employer responsibilities in remote work arrangements.

Merli Kesküla

| 4 min read | 20 Dec 2022

Financial results Last season was crowned with success

For Grant Thornton Baltic OÜ, the 2021/2022 season in Estonia was very successful - our turnover increased by 24% compared to the previous financial year. The impressive growth took us to the second place in the ranking of auditing companies compiled by business newspaper Äripäev.

3 min read | 28 Nov 2022

Transaction Advisory We advised the importer of Audis on the sale of a stake

In the spring and summer of 2022, Fourings OÜ, which brings together companies engaged in the sale and maintenance of Audis in Estonia, sold a 50 percent stake to the investment company UG Investments.

1 min read | 21 Nov 2022

Grant Thornton Baltic saade Kasvukursil Äripäeva raadios

Transaction advisory Selling a company in hard economic times is harder but not impossible

Experts say that activity on the transactions market has returned to previous levels in contrast to the slump in the spring, but it should be remembered that more restrictive conditions are added to contracts in hard times.

| 7 min read | 11 Nov 2022

Legal Deleting a branch of a foreign company from the Commercial Register

Up to 30 December 2021, according to subsection 390 (4) of the Commercial Code it was required that a branch of a foreign company has to be liquidated before deletion from the Commercial Register, with all of the stages necessary for liquidation to be followed: notification of creditors, satisfaction of creditors’ claims, preparation of a final balance sheet, etc.

2 min read | 11 Nov 2022

Legal Negative net assets and related issues

Most annual reports have by now been submitted and the Commercial Register is now checking whether companies’ equity meets the minimum net assets requirement arising from legislation. What does this mean for companies?

Uljana Feldman

| 5 min read | 11 Nov 2022

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