Macedonia has started the process of liberalizing and privatizing the energy market as an obligation deriving from the Treaty establishing the Energy Community signed on October 25, 2005 in Athens (the “Treaty”).
Macedonia’s 2013 Law on Takeover of Joint Stock Companies provides a squeeze-out right enabling a majority shareholder who has acquired at least 95% of the shares of an eligible joint stock company on the basis of a takeover bid to require the minority shareholders to sell their securities at a fair consideration.
On Thursday, November 30th, leading legal practitioners from across Central and Eastern Europe gathered in Prague to help CEE Legal Matters celebrate its fourth successful year as the leading chronicle of the legal industry in the region, participating in an expert Round Table conversation about the year just concluded and enjoying an evening of dinner, drinks, and bonhomie.
Prior to initiating a civil court procedure, parties may try to solve a dispute through out of court negotiations. When these out of court negotiations are not successful or when the relevant statute of limitations is about to expire, in order to protect their rights, the parties can initiate a procedure in the competent court.
Macedonian lawyers cooperating with Karanovic & Nikolic have advised Central Asia Metals on its EUR 340 million acquisition of 100% of Lynx Resources, which operates the SASA zinc-lead mine in Macedonia, from Orion Co-investments III and Fusion Capital. The Georgi Dimitrov Law Firm reportedly advised the sellers.
The commercial legal markets of Central & Eastern Europe didn’t appear automatically. They didn’t develop in a vacuum. They were formed, shaped, and led, by lawyers – visionary, hard-working, commercially-minded, and client-focused individuals pulling the development of CEE’s legal markets along behind them as they labored relentlessly for their clients, their careers, their futures.
“A lost year” is how Gjorgji Georgievski, Partner at ODI in Macedonia, describes the current state of deal-making in his country. “From April onwards things got really slow because of the culmination of the ongoing political crisis,” he explains, adding: “Since the formation of the new Government in June it was normal for things to calm down but soon after we got into a state of waiting for the local elections which eventually took place on October 15, 2017.
Biljana Joanidis, the Managing Partner of the Law Firm Joanidis in Macedonia, is hesitantly encouraged by recent developments in her country — many of which, in her opinion, can be tracked back to the election at the end of May, by slim majority in Parliament, of a government led by Zoran Zaev of the center-left Social Democrats.
The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.
On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.
The Personal Data Protection Act 2005 (the “Act”) is the key legislative act that regulates personal data protection matters in Macedonia, including transfers of personal data outside of Macedonia. The Act is aligned with the EC Directive 95/46/EC (the “Data Protection Directive”). Macedonia’s obligation to align the Act with the Data Protection Directive derives from its status as a European Union candidate country, for which implementation of the EU legislation is mandatory. The Directorate for Personal Data Protection (the “Directorate”) is the Macedonian independent agency competent to oversee the Act’s implementation.