CEE Legal Matters In-depth coverage of the news and newsmakers that shape Europe's emerging markets 
Viruses affecting human body have been the hot topic of most conversations for over two years. However, the digital world is not spared from “viruses” which affect other aspects of human lives. Multiple malwares used for cyber-attacks are created to damage, disrupt, hack, or block a device and encrypt or lock data and can cause enormous damage both in the private and public sector.
This year, the Croatian Companies Act (Act) was amended again (amendments enter into force on 1 June 2020 and on 1 August 2023).
One of developments in the artificial intelligence sphere which raised most concerns about potential human rights violations is definitely facial recognition.
The EU-imposed sanctions on Russia have generated significant movements throughout Europe, and Croatia has felt the ramifications as well – leading to a lot of work and some economic uncertainty, according to Ostermann & Partners Partner Vjekoslav Ivancic.
Considering the military invasion of Ukraine by the Russian Federation and the scale of mass influx of displaced persons from Ukraine, on 7 March 2022 the Republic of Croatia officially introduced temporary protection for the displaced persons from Ukraine in accordance with the Act on International and Temporary Protection. The temporary protection is granted to persons displaced from Ukraine as of 24 February 2022 (or just before this date), more specifically, to Ukrainian nationals and their family members as well as to certain groups of stateless persons and certain groups of third country nationals.
On February 24, four leading lawyers in Croatia sat down for a virtual round table moderated by CEE Legal Matters Managing Editor Radu Cotarcea. The conversation focused on the current state of affairs of ESG in the country at the moment and the challenges of raising awareness in the topic.
The Russian Federation invasion of the Republic of Ukraine and the consequent economic response from the West has led to negative effects in the business of companies based in the Republic of Croatia.
CMS has advised Privredna Banka Zagreb on refinancing and acquisition financing for the Danilo and Rudine wind farms. Kovacevic Prpic Simeunovic has advised buyer Professio Energia on the acquisition, financing, and refinancing the existing loans from the IFC and Unicredit Bank Austria. Schoenherr advised the sellers, Mirova and RP Global. Ostermann & Partners and White & Case advised the IFC and Unicredit.
“Nobody has a crystal ball, so it’s very difficult to foresee what the immediate future will look like,” says Mojmir Ostermann, Managing Partner of Ostermann & Partners, referring to the current situation in Croatia and the COVID-19 crisis.
Ostermann & Partners is a full-service Croatian corporate law firm advising local and international companies, financial and governmental institutions.
For more than a decade, we have been providing comprehensive legal services and transactional advice to our clients in the following areas: Banking & Finance, Capital Markets, Corporate, Commercial and M&A, Employment, Energy, Project Finance, Real Estate and Restructuring & Insolvency. Furthermore, we have developed a particular expertise in representing clients in all types of disputes (litigation and arbitration) where our in-depth and thorough approach has been particularly recognised by both peers and clients.
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