On May 26, 2021, the EU’s new Medical Device Regulation came into force, significantly changing the applicable regime, including – of particular interest to the dynamic Slovenian MedTech start-up community – by providing a new definition of software applications that need to be certified as medical devices.

In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. The question this time: “What did you most want to be when you were little?”

CMS' Malgorzata Surdek-Janicka has been appointed as Vice-President of the International Court of Arbitration at the International Chamber of Commerce in Paris. Aside from Surdek-Janicka, 33 lawyers from CEE were appointed as members and alternate members of the court.

Karmen Rebesco law firm, working with Allen & Overy, has advised mandated lead arranger Nova Ljubljanska Banka d.d. on the provision of a EUR 148 million syndicated loan to members of the SIJ Group. Dentons and Jadek & Pensa advised the SIJ Group on the deal.

Selih & Partners has advised OTP on the acquisition of Nova KBM bank in Slovenia from Apollo and EBRD. Paul Weiss and Wolf Theiss advised the sellers on the deal.

Baker McKenzie has advised MOL Group on the acquisition of a 92.25% stake in OMV Slovenija d.o.o. for EUR 301 million. Rojs, Peljhan, Prelesnik & Partners advised MOL on Slovenian law.

CMS offices in Slovenia and Serbia have jointly advised the Sportina Group on the implementation of a new online sales channel in cooperation with Shoppster.

Krehic & Partners in cooperation with Deloitte Legal has advised Slovenia's Iskra on its acquisition of Croatia's Elka Cables from Cotra d.o.o and Miljenko Hacek.

The COVID-19 epidemic and consequent restrictive measures strongly affected Slovenia’s economy, including the country’s rental market. The COVID-19 epidemic impacted all commercial leases, with tourism, hospitality, and to an extent retail among the sectors suffering most. Commercial properties with strong tenants such as IT & Life Science companies and public sector entities proved to be much more resilient than commercial properties dependent on tenants from distressed sectors.

On April 1, 2021, CEE Legal Matters reported that ODI Law had advised the MSIN Group on the acquisition by member company EGP of a 75.11% stake in Croatia-based cardboard packaging manufacturer Neograf from Croatian entrepreneur Dusan Boras. CEE In-House Matters spoke with Tina Bacic, Corporate Legal Advisor at MSIN Group, to learn more about the matter. 

A new law firm alliance has appeared in the countries of the former Yugoslavia.

Akin Gump, Bogdanovic, Dolicki & Partneri, Maric & Co, Isailovic & Partners, Harrisons, Zdolsek Attorneys at Law, Boga & Associates, Popovski & Partners, and Forgo Damjanovic & Partners have advised Croatian conglomerate Fortenova Grupa d.d., on the EUR 615 million sale of its frozen food business to Nomad Foods. Norton Rose Fulbright, Lakatos, Koves & Partners, and five firms from the SEE Legal alliance advised Nomad Foods on the deal, which is expected to close in the third quarter of 2021.

ODI Law has advised MSIN Group on the acquisition by member company EGP of a 75.11% stake in Croatia-based cardboard packaging manufacturer Neograf from Croatian entrepreneur Dusan Boras. The Law Office Mucalo advised Boras.

“Covid is still a very hot topic in Slovenia, I’m afraid,” reports ODI Partner Suzana Boncina Jamsek. “The vaccination efforts have somewhat stalled, especially with some problems that Europe seems to have been having with the AstraZeneca vaccine, and this is affecting the market and our daily work.” Boncina Jamsek says that the country still has some lockdown measures in place, but that these change “almost on a weekly basis,” and are not very strict at the moment. “Still, business meetings are rarely taking place in person and this is still a hurdle for all of us,” she says.

On June 20, 2019, the European Parliament and the Council of the European Union adopted the Directive (EU) 2019/1023 on restructuring and insolvency (hereinafter: Directive). The objectives of the Directive are to make it easier for companies in financial difficulty to access restructuring measures at an early stage to prevent them from becoming insolvent, to lay down minimal rules on the discharge of debt incurred by insolvent entrepreneurs and to increase the efficiency of preventive procedures and insolvency procedures, primarily to shorten the length of the procedures.

Schoenherr has advised the Liechtenstein Group on an unspecified investment in PV-Invest, a renewable energy company active in Austria and Southern and Southeastern Europe.

Stock incentive schemes granted by listed or unlisted companies such as s stock options, stock appreciation, restricted shares and stock awards are a common way of rewarding employees. Employees participating in stock incentive schemes are subject to individual income tax.

Ketler & Partners, member of Karanovic, has advised ARX Equity Partners on its acquisition of Instrumentation Technologies and Red Pitaya, a handheld electronics lab, from its founders. The sellers were advised by Acuity Advisors.