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Donatas Šliora

Associate

Vilnius, Lietuva

+370 5 251 4444

donatas.sliora@tgsbaltic.com

English, Lithuanian

MAJOR PROJECTS

Represented Aero Capital Solutions Inc. and Aircastle Inc. respectively on a leveraged purchase and sale of two aircraft registered in Lithuania and leased to an air carrier operating in Lithuania (2017);

Advised Valeant Pharmaceuticals International, Inc and its group company AB SANITAS on change of the existing financing structure and offerings of new notes (2017);

Represented UAB Medicinos bankas in acquiring a loan portfolio from UAB Baltijos kredito sprendimai (2017);

Represented EstateGuru on start-up activities in Lithuania. Prepared standard documents for a crowdfunding platform (2017);

Advised Aircastle Advisors on aircraft lease issues (2017);

Advised AB Lietuvos geležinkeliai on financing of the Rail Baltic Project and relations with the INEA and the European Commission (2016–2017);

Represented ING Bank (acting as an agent to a group of large scale banks) in restructuring the facilities in the amount of EUR 390 million extended to a group of companies engaged in the areas of industrial construction and supervision. Reviewed and revised finance documents, drafted and negotiated new security documents and also amendments to the existing security documents (2016);

Provided legal assistance to Skandinaviska Enskilda Banken AB regarding a new wording of the existing loan agreement for the loan amount in excess of EUR 103 million in connection with the acquisition by Laurus Properties of the commercial real estate portfolio from Geneba Properties N.V., which is mortgaged in favour of Skandinaviska Enskilda Banken AB (2016);

Represented Nordea Bank Finland Plc, Danske Bank A/S and Skandinavska Enskilda Banken in connection with the restatement of a multicurrency and revolving facilities agreement with OneMed Holding and its subsidiaries, whereby an aggregate amount in excess of EUR 127 million was made available to the borrowers (2016).

OTHER EXPERIENCE

Advises the European Investment Bank (EIB) in creating a new multi-apartment modernisation financing model involving private capital through financial leverage, also advised on financing and security of obligations issues related to the implementation of the JESSICA project (2014 – present);

Represented the Lithuanian Government in co-counsel with law firm Shearman & Sterling (Paris office) in large-scale arbitration disputes against Russia’s gas giant Gazprom before the Arbitration Institute of the Stockholm Chamber of Commerce (SCC). This case was initiated by the Republic of Lithuania against Gazprom (claimed amount: over EUR 1.5 billion) for applying unjustified gas tariffs when supplying gas to Lithuania due to changes in the gas price formula that were made in violation of the terms of the agreement on the privatization of the national gas company AB Lietuvos Dujos (2014–2016);

Represented AB SEB Bankas in refinancing an EBRD loan extended to LKAB Klaipėdos Smeltė and extending an additional facility. The total value of the transaction was EUR 41 million (2015);

Advised one of the largest independent investment advisory firms, Mezzanine Management, in a EUR 23.3 million transaction on investments to Mogo Finance, a car leasing and leaseback service company (2015);

Advised UAB Šilutės Vėjo Projektai (a Lithuanian subsidiary of 4Energia) on a loan facility in excess of EUR 90 million (2015);

Advised the bankruptcy administrator of AB bankas SNORAS (bankrupt), UAB Valnetas, on issues related to the bankruptcy of the bank, sale of the bank’s loan portfolio, collaterals and transfer thereof and regulatory issues, including insurance of deposits and the issue of banking secrecy (2014–2016);

In cooperation with other international consultants, advised the Government of Ukraine and Ukrainian National Energy Company “NAK Naftogaz” on implementation of the EU’s Third Energy Package in the natural gas sector of Ukraine (2015);

Advised Swedbank, AB regarding the transfer of Danske Bank’s retail banking business in Lithuania, including regulatory requirements and the issue of transfer of collaterals (2015);

Advised the Lithuanian subsidiary of Mars Inc. on accession to the treasury’s global in-house bank. The structure chosen by Mars Inc. group companies consisted of cash pooling, creating a payment factory, and inter-company netting;

Advised one of the largest international market participants on issues related to virtual currencies (crypto currency), analysed the influence of prevention of money laundering and terrorist financing and the regulation of payment services and customer protection on trade in crypto currencies and other related services (2014);

Advised Micro Matic, a worldwide market leader in the supply of keg spears and dispense heads to the brewing industry, on financing of acquisition of a land plot and factory buildings in Kaunas (2016);

Advised a foreign airline on aircraft lease and related issues (2015);

Represented AB SANITAS in changing collaterals to secure a syndicated loan in excess of EUR 30 billion, extended by an international investor syndicate (2015);

Prepared a memorandum for the operator of an international online trading platform on issues related to payment services and the prevention of money laundering and terrorist financing (2015);

Represented the Ignalina Nuclear Power Plant in the adjudication proceedings with one of the contractors (2014);

Represented the Swedish trust company Nordic Trustee, acting on behalf of creditors, in transactions on creating EUR 50 million collaterals in Lithuanian jurisdiction;

Provided legal consultations to AB Lietuvos Paštas on pricing, regulation of the Universal Postal Union (UPU), including the use of UPU documentation and the designated operator’s activity in foreign (EU and other) jurisdictions (2014–2015);

Advised AB Klaipėdos Nafta in securing the fulfilment of obligations arising out of the State guarantee; provided consultations on issues related to the Time Charter Party on lease of a floating storage and regasification unit (FSRU) for the liquefied natural gas terminal (LNGT) (2014–2015);

Advised the Government of the Republic of Lithuania on a possible dispute under the Investment Protection Agreement between Lithuania and the Netherlands and the Energy Charter Treaty (2014–2015);

Assisted in carrying out the due diligence of AB Ūkio Bankas (bankrupt) and advised UAB Valnetas (2014–2015);

Represented a creditor, Estonian company Cronimet Eesti Metal OÜ, in the process of creating a mortgage in Lithuanian jurisdiction for securing a EUR 1.5 million financing transaction;

Assisted in carrying out the due diligence of UAB EMP Recycling, UAB Mogo LT (2014–2015);

Prepared a memorandum for a credit union on the terms of validity of the guarantee issued by the Agricultural Credit Guarantee Fund (2014);

Regularly advises on regulatory issues related to the activity of financial institutions, as well as on matters concerning acquisition, insurance, financing, collaterals, participates in arbitration proceedings.

PUBLICAtions

  • Lithuania Continues its Fight Against Corruption and Money Laundering // CEE Legal Matters, 27 September 2017
  • Shareholders’ liability: A slash on the attractiveness of Lithuania’s financial sector // Verslo žinios, 19 July 2017
  • Study on the Law Applicable to Insurance Contracts // European Commission, 27 June 2017
  • A step towards regulation of Bitcoins // Delfi žinios, 3 November 2015
  • Confidential dispute resolution // Lietuvos Rytas, 26 April 2014

COMMENTS

  • Lithuania Disappoints Fintech Sector with a Virtual Currency Crackdown // paymentscompliance.com, 18 October 2017
  • The diagnosis is as follows: We say farewell to banks, money, and bailiffs // Delfi žinios, September 2017
  • Lithuanian State-Run Remitter Faces Money Laundering Probe // paymentscompliance.com, 24 August 2017
  • Baltic Banks Warm to Payments Overhaul // paymentscompliance.com, 8 August 2017
  • Seimas’ decision: When shopping online the buyer will have to provide paper versions of documents? // Delfi žinios, 27 June 2017
  • Lithuania Teeters on Timely AMLD Transposition // paymentscompliance.com, 26 June 2017
  • New gateway for borrowing, investment and business // Verslo žinios, 7 November 2016
  • PSD2: Lithuanian Payments Industry Jubilant as Reforms Begin to Bite // paymentscompliance.com, 7 March 2016

PROFESSIONAL CAREER

  • Since 2017 Associate at law firm TGS Baltic (former TARK GRUNTE SUTKIENE)
  • 2014–2017 Associate at law firm TARK GRUNTE SUTKIENE
  • 2011–2012 lawyer at law firm Motieka & Audzevičius

EDUCATION

  • 2015 Vilnius University, Faculty of Law (Master of Laws)