Inese Hazenfusa

Partner, Head of the Banking & Finance practice group, Latvia

Riga, Latvia

+371 67889999; Mob: +371 26468654

Latvian, English, Russian, French

Inese Hazenfusa is “a genuine business lawyer” who “helps with the most complicated problems with amazing ease”. She is recognized as “utterly competent’ and “absolutely at ease with the securing and licensing of IP rights’.



  • Carried out full scope assistance to Expobank CZ a.s. with financing of acquisition of Radisson Blu Daugava Hotel by Astor Group (Latvia) from PBR Hotel (USA);

  • Advised Poland investment fund and fund manager CVI regarding “unitranche” funding to “Arsenal Industrial”;
  • Provided legal assistance to the University of Latvia regarding EUR 11.5 million loan agreement of the Council of Europe Development Bank;

  • Assisted KnowledgePrice, a digital transformation services firm with the sale of their 100% shares to Sapiens International Corporation, a leading global provider of software solutions for the insurance industry;

  • Provided legal assistance to the University of Latvia regarding the 30 MEUR investment contract of the European Investment Bank for the further development of the “Academic Centre”;

  • Advising shareholders of AS Interbaltija AG on buy out of a minority shareholder (SIA Wine Holding) and subsequent sale of 100% shares of AS Interbaltija AG to Amber Beverage Group;

  • Provided legal support to the shareholders of AS Interbaltija AG in alienation of 100% shares of the Company to Amber Beverages Group, an SPI group company;

  • Provided legal assistance to Skandinaviska Enskilda Banken AB (SEB) regarding amendments and new wording of the existing loan agreement for the loan amount of EUR 103,370,085, 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 (SEB);

  • Provided legal assistance to SEB bank Latvia regarding a long-term syndicated loan to Linstow group enterprises. SEB bank acting also as the agent and Danske Bank together issued a loan of 76 million euros to the Linstow group companies, and each of the banks  financed a half of the loan;

  • TGS Baltic advised Scandinavian financial group Swedbank on the acquisition of Danske Bank personal banking business in Lithuania and Latvia. The transaction covered personal accounts, loans, deposits, payment cards and securities;

  • Provided legal advise to the investor in acquisition of a part of DK Daugava production undertaking – a dairy production undertaking, including equipment and real estate; 

  • TGS Baltic in cooperation with Freshfields Bruckhaus Deringer LLP successfully represented the Finance and Capital Market Commission, which acted on behalf of the Republic of Latvia, with respect to the claim submitted by Bryn Services Ltd. against the Republic of Latvia, based on the Agreement between the Government of the Republic of Latvia and the Federal Council of the Swiss Confederation on the Promotion and Reciprocal Protection of Investments, dated 22 December 1992, within the International Arbitration Court proceedings. Transaction value MUSD 26;

  • Issuance of a legal opinion on Latvian law in relation to a business transfer agreement, to which AS Latvijas Krajbanka – represented by its insolvency administrator SIA KPMG Latvia within the scope of sale of its assets, was a party, to be used in proceedings initiated by the insolvency administrator in a foreign court with an intention to have recognition of the status of a lawful creditor, which would consequently permit it to act in another foreign court as a fully entitled creditor;

  • Full scope representation of FMS Wertmanagement AöR, Depfa Bank plc. and Depfa ACS Bank on assignment of loan portfolio in amount of 182 MEUR issued to public institutions in Latvia. FMS Wertmanagement is the German federal government’s winding-up institution for the nationalised Hypo Real Estate Holding AG (HRE Group). She provides further advice to the entity on other matters concerning Latvia;

  • Legal advice to the administrator of the insolvent AS Latvijas Krajbanka - SIA KPMG Latvija in the process of fulfilment of the conditions prior to closing of a transaction with an acquirer of a loan portfolio with a value exceeding EUR 11m.


Representation and transaction support to SEB Wealth Management in the acquisition of the assets of AS Hipo Fondi, a group company of the Mortgage and Land Bank of Latvia, within the scope of restructuring of the bank. The assets transferred included the rights to manage pension funds and investment plans. The transaction advice included due diligence of the subject matter of sale, drafting of the transaction documents and participation in the negotiations. The uniquenesss of the transaction relates to the object of acquisition – one of the vere few such transactions during the existence of the current pensions system;

Advised SEB banka on acquisition of a part of an undertaking containing mortgage loan portfolio from Allied Irish Bank, which was originally issued by the Baltic American Enterprise Fund and assigned to Allied Irish Bank, which winded up its activities in Latvia. The rendered services included assistance in relation to the due diligence by the acquirer, negotiations and drafting of the transfer agreement and security transfer documents. Transaction involving a long term mortgage secured residential loan portfolio;

Full documentation support of ABN AMRO Bank N.V. in international trade financing transactions in Latvia, in particular in relation to establishing of security for goods located in Latvia. Most recent advice in relation to amendments to a Facility Agreement and related novation of an established commercial pledge in Latvia for the value of USD 300,000,000, and issuing of a respective legal opinion on the security established in Latvia.


  • Inese Hazenfusa comments on the Regulatory Sandbox for Fintech Companies, Dienas Bizness, 2017
  • Banking and Finance Law Newsletter, June-October 2015, Legislative Updates-Latvia
  • Newsletter on Liability of management board for delayed tax payments - December 2014
  • Baltic B&F Newsletter: Euro in Latvia, responsible lending, credit unions and more - June 2013
  • Forest Industry Manual, "Dienas Bizness" – 2009 - 1014
  • B&F newsletter, November 2012 
  • B&F newsletter, June 2012 
  • B&F newsletter, June 2011 
  • Manual of Contracts, "Dienas Bizness" - 2008, 2009
  • Basic questions in relation to UN Convention on International Sales of Goods, "Latvijas Vestnesis" - 2004


  • Presented to the participants of the startup programme of ‘’Overkill Venture AIFM’’ a brief insight into the General Data Protection Regulation and the Start-up programme support law, Riga, October 2018
  • Corporate governance in a distressed context, Helsinki - June 2009
  • In Lawyers Days of 2009 in University of Latvia on international sales of goods contract and Civil law purchase agreement regulation, Riga - 2009


  • Council of Bars and Law Societies of Europe (Information Officer since 2004)
  • Latvian Bar Association (admitted 2003)


  • Since 2012 Partner at TGS Baltic 
  • Since 2009 Senior Associate at TGS Baltic
  • 2005 - 2009 Senior Associate at Loze, Grunte & Cers
  • 2003 - 2005 Associate at Grunte & Cers
  • 1999 - 2003 Legal Assistant at Grunte & Cers


  • 2003 Department of Law, Central European University (LL.M. in Comparative Constitutional Law)
  • 2002 Department of Law, University of Latvia (Dipl.iur.)