ADON legal assisted Šeili, UAB with setting-up of business operations as a consumer credit provider and mortgage credit provider. The law firm drafted internal documentation of the company and represented Šeili, UAB and its shareholders in both procedures carried out with the Bank of Lithuania.
The team of ADON legal consisted of Partner Donatas Šliora, and Associate Miroslava Kryštul. ADON legal will continue to provide legal support in the development of the business model, and further expansion of the range of services.
There are currently 10 non-banks (including Šeili, UAB) specializing in the issuance of mortgage credit, and 47 consumer credit providers. New active market participant is likely to increase competition in the sector.