OREANDA-NEWS. August 24, 2009. Sorainen Latvia recently advised Lode, the largest ceramic construction materials producer in the Baltic States. Lode coordinates four subsidiary companies producing materials for the Baltic, Polish, and Russian markets, reported the press-centre of Sorainen.

The Sorainen team assisted the client in negotiations with SEB Banka over the restructuring of EUR 16 million loan facilities. Sorainen advised on the restructured loan documentation and complex insolvency law issues under recently adopted legislation. The new loan conditions allow Lode to successfully continue operations, including production that will be adapted to reduced market demand and season. 

This has been one of the largest recent debt restructurings in Latvia. The client was advised by partner Girts Ruda, senior associate Rudolfs Engelis and associate Santa Selga.