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.
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.
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.
“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.