Discussion about draft amendments to the Law on Companies during LT VCA event
2022 10 18
A long-awaited liberalization of the corporate capital rules is included in the draft amendments to the Law on Companies.
“Lithuanian startups and venture capital funds becoming global players – that’s the reason why the demand for financial innovation and investor protection has increased in recent years”, − said WALLESS partner Andrius Ivanauskas during Lithuanian Private Equity and Venture Capital Association (LT VCA) event. The discussion of the draft was the main topic during the meeting with LT VCA members. Andrius Ivanauskas, who contributed to the development of the draft law, shared his insights with members and noted that the legislative process is not easy because for the first time we are revising the rules of corporate capital to such a great extent. “The amendments are required to ensure legal certainty to founders and investors”, he concluded. WALLESS partner dr. Mindaugas Lukas added that flexible rules on preferred shares will require a more sophisticated approach from tax authorities.
WALLESS team was happy to welcome venture capital and the private equity community and continue the tradition of LT VCA events.