1. Types of Business Entities - The most common types of companies in Estonia are the public limited liability company ("AS") and the private limited liability company ("OÜ"). The OÜ may be compared to a closed...more
Now in its seventh year of annual publication, White & Case's Foreign Direct Investment Reviews provides a comprehensive look into rapidly evolving foreign direct investment (FDI) laws and regulations in approximately 40...more
Danske Bank, the largest bank in Denmark, agreed to plead guilty to fraud and paid $2 billion to settle long-standing anti-money laundering and fraud violations stemming from its banking operations in Estonia. Danske Bank...more
1. Is your country a member of the OECD Anti-Bribery Convention? Yes. 2. Is your country a member of any other bilateral or multilateral conventions on anti-corruption?...more
1. Types of business entities - The most common types of companies in Estonia are the public limited liability company ("AS") and the private limited liability company ("OÜ"). The OÜ may be compared to a closed...more
First it was digital nomads. Now will “state-sponsored stipends” become part of the mainstream global lexicon? As we have discussed at length, the COVID-19 pandemic has affected employers and employees across the world....more
Canadian Ether Fund Launches, Swiss Bank Tokenizes Shares, New German Law Passed - Earlier this month, 3iQ Corp., a Toronto-based investment management firm, announced the listing of its fund, The Ether Fund (the Fund), on...more
In a landmark development, the European Union’s Foreign Ministers on December 8 approved an “Action Plan on Human Rights and Democracy” that establishes a new mechanism for targeting systematic violators of human rights from...more
It may go too far to say things are looking up for Danske Bank, but the institution was handed a significant victory when the Southern District of New York dismissed an investor lawsuit on August 24, 2020. ...more
The latest phase of legislative changes to Estonia’s Family Benefits Act are due to come into effect in July 2020. Legislative changes to the Family Benefits Act were approved in 2017, but the changes have been introduced...more
Danske Bank: “If we’re going down, you’re coming with us.” - First Post in a Two-Post Series - On March 19, 2020, Swedbank received the first of what will likely be multiple sanctions regarding alleged deficiencies in...more
Q1/ Applicable legislation - (a) Have the requirements of the GDPR been addressed by introducing a new law, or by updating existing legislation? Old legislation has been updated in addition to new legislation being...more
Disney will take total control of the TV and movie streaming service Hulu after forking over at least $5.8 billion to buy out last remaining partner, Comcast. That price won’t be determined for a while, though, as the sale...more
Chevron has dropped its $33 billion bid for Anadarko, ending the energy industry’s “fiercest takeover battle in 15 years” and leaving smaller rival Occidental “poised to become the dominant force in the largest oil field in...more
Authorities Begin to Focus on Individual Responsibility - This week, Danish prosecutors charged Thomas Borgen, the former chief executive officer of Danske Bank, for his involvement in the money laundering scandal arising...more
More Allegations of Nordic Malfeasance Surface as Private Party Lawsuits Beset Danske Bank and SwedBank Gets Sucked into Unfolding Scandal....more
Estonia, the small Baltic country of just 1.3 million people situated halfway between Sweden and Russia, was named “the most advanced digital society in the world” by Wired magazine. According to recent figures, Estonian...more
The Danske Bank money laundering scandal continues to reveal its many permutations and confirm its status as the largest money laundering case in history....more
US trade negotiations with China have stalled such that the anticipated meeting between the countries’ leaders is, according the White House, “highly unlikely” to occur before the March 1 deadline marking the end of a 90-day...more
Danske Bank is likely to again become the target of a formal investigation in France. A Paris court began investigating Danske Bank in October 2017 in relation to transactions of its Estonian branch, between 2008 and 2011,...more
Earlier this month, Danske Bank A/S – Denmark's largest bank – announced that the United States Department of Justice ("DOJ") has initiated a criminal investigation relating to the bank's Estonian branch....more
Advocate General Wathelet has issued his opinion in the Eesti Pagar preliminary ruling, which if followed could have significant implications for Member States, national authorities and beneficiaries of State aid. Wathelet’s...more