Tue, May
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Cobalt has assisted UAB Mobilus Mokejimai in obtaining an electronic money institution license for restricted activity, enabling it to issue electronic money and provide payment services in Lithuania.

Esin Attorney Partnership has represented the shareholders of Eko Faktoring A.S. in their acquisition of the remaining 18.4% of shares in Cooperatieve BVS Financial Services.

ZAB Deloitte Legal has represented AS Indexo in its successful application for an investment management license and its registration as a manager of funds in a funded pension scheme.

Clifford Chance has advised EVRAZ plc, the London-listed globally integrated steel, mining. and vanadium company, on its disposal of the entire issued share capital of its fully owned subsidiary Joint Stock Company EVRAZ Nakhodka Trade Sea Port to its majority shareholder Lanebrook Limited for a cash consideration of USD 354.4 million. Latham & Watkins advised Lanebrook Limited on the deal.

Linklaters Warsaw, working pro bono, has assisted the Empowering Children Foundation on its purchase of property in Warsaw earmarked to be Poland's first specialist support center for children.

Motieka & Audzevicius has advised ZSC Techteam and ZeroSum Capital OU on each's acquisition of 40% of the shares in long-term firm client Finbee — which the firm also represented on the deal.

The Komnenic Law Office has opened its doors in Podgorica, Montenegro. 

DLA Piper is announcing that Alla Kozachenko has been appointed as Head of Corporate and M&A practice in the firm's Kyiv office.

Norton Rose Fulbright has confirmed that Tomasz Rogalski has been promoted to Of Counsel and made the firm's Head of Energy and Infrastructure in Poland.

A new European law firm alliance with a substantial CEE presence has appeared on the legal scene. The new Act Legal alliance (branded in lower-case, as "act legal") consists of founding members AC Tischendorf (in Germany), BSWW (in Poland), MPH (Slovakia), Randa Havel Legal (Czech Republic), Vivien & Associes (France), and WMWP (Austria).

Serbia's MIM Law has announced that former Karanovic & Nikolic Partner Tanja Unguran has joined the firm as a Partner.

SPC Legal has announced that new Partner Daiva Lileikiene and colleague Edita Barkauskaite have left Tailors to lead the firm's Public Procurement practice.

This month's cover article aims to analyze, in the specific context of a case study based on the experience of our team, the practical effects on companies of the lack of corroboration or compatibility of certain legal provisions.

Serbian national electricity company, Electric Power Industry of Serbia (“EPS”), is working actively on the development of systems for generation of renewables. Some of the most important ventures at the moment are construction of solar and wind farm in Kostolac, a small town in the eastern part of Serbia, as well as support to investments in the field of biofuels.

The Hungarian Parliament has started the general debate concerning the new bill on the mandatory filing of country-by-country report by multinational enterprise groups (MNE Groups) located or operating in the EU. The aim is to hinder the aggressive tax-planning practices of the MNE Groups with a total consolidated revenue equal or higher than €750 million by strengthening the mandatory exchange of information. Increased transparency could have the effect of giving MNE Groups an incentive to abandon the above practices.

Although the economic needle of the Turkish compass suffers through changes and deviations in the recent years, energy sector (mainly renewable/sustainable) remains true to its nature of sustainable growth and energy.

During the last year, the number of labor disputes which were resolved through mediation and arbitration in Serbia have increased fivefold. To improve the process of peaceful labor dispute resolution, amendents to the Amicable Labor Dispute Resolution Act (the “Act”) are expected.

Is Sustainability Possible in Family Businesses? 

As is known, family businesses carries a crucial importance not only in Turkey but also in global sense in economic life. Family companies contribute nearly %75 of GNP and %85 of employment in Turkey. 

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Business is good in Bulgaria at the moment, according to Ilko Stoyanov, Partner at Schoenherr in Sofia. He draws particular attention to the real estate market — especially the shopping mall segment, which has seen four Sofia malls change owners already this year. Stoyanov isn’t able to pinpoint a particular reason for the boom, but notes that two of the malls (The Mall and the Serdika Center) are expected to be sold to a "sizeable investor”  New Europe Property Investments. The price of real estate has increased in 2017, according to Stoyanov, “reaching levels close to before the financial crisis."

Anthony O’Connor came to Europe from his native Australia in 2006. As a Partner at Kinstellar in Budapest, he is both head of Kinstellar’s Hungarian Corporate/M&A practice and Co-Head of its firm-wide Private Equity practice. 

On March 13, 2017, CEELM reported that Arcus Infrastructure Partners, an independent fund manager specializing in European infrastructure, had acquired an 85% stake in Gdansk Transport Company S.A., established to work on AmberOne A1 motorway concession in Poland. We invited Toby Smith, the General Counsel for Arcus Infrastructure Partners, to share his thoughts on the company’s first transaction in Poland.