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October 30, 2018, Hyatt Regency Hotel, Belgrade

We are excited to announce that registration for the 2018 Balkan General Counsel Summit is now open. The event will take place in Belgrade’s Hyatt Regency Hotel on October 30, 2018.

In July 2017 the Slovenian Competition Protection Agency initiated proceedings against Renault (which operates as RENAULT NISSAN SLOVENIJA doo). The company was suspected of treating authorised mechanics and independent mechanics differently, which gave the agency grounds to believe that Renault had abused its dominant position (for further details please see "Automotive industry again under scrutiny by Competition Protection Agency"). In response, Renault proposed remedies in an attempt to address the agency's concerns and eliminate the alleged anti-competitive effects on the market. In November 2017 the agency published Renault's proposed commitments online and invited third parties to comment and make suggestions.

The continued rise in the number of sales in 2017 confirmed the revival of the Slovenian real estate market that began in 2014 (after the end of the economic crisis). While the prices of residential real estate in Slovenia hit bottom in 2015, last year they increased more than ten percent over the previous year. Real estate prices have continued to rise in the first few months of this year as well.

The Slovenian business sector, along with local Slovenian law firms, is still waiting for the newly-elected Parliamentary politicians to form a government, says Uros Ilic, the Managing Partner of ODI Law in Ljubljana. “In the long run the final form of the government could affect business life,” he says. “Not just because of the different approaches towards the tax system, but also because of the possible approaches towards privatization processes.”

With the tremendous increase in the price of cryptocurrencies in 2017 the world has witnessed an explosion of cryptocurrency-related enterprises, with initial coin offerings at the forefront. Several European countries have aligned their legislation to become appealing for such enterprises and Slovenia has been mentioned on several occasions as one of the most “crypto-friendly” countries. However, as Slovenian legislation offers a very high level of protection to personal data regarding identity documents, crypto business ventures within the Slovenian jurisdiction may be at a disadvantage against foreign competitors.

Selih & Partners has advised Slovenia's NLB banking and finance group on a long-term syndicated loan of USD 72 million and a mid-term revolving facility of EUR 30 million extended by a consortium of banks which it belongs to the Interblock Group. Rojs, Peljhan, Prelesnik & Partners advised Interblock on the deal.

Wolf Theiss has advised the Chinese home appliance producer Hisense on its takeover offer for 95% of the shares in Slovenian white-goods manufacturer Gorenje. Jadek & Pensa advised Gorenje on the sale. The transaction value exceeds EUR 250 million.

The European Union’s General Data Protection Regulation is, according to the EU-hosted GDPR website, “the most important change in data privacy regulation in the past 20 years.” The Act, which was approved by the EU Parliament on April 14, 2016 and will become fully effective on May 25, 2018, was designed “to harmonize data privacy laws across Europe, to protect and empower all EU citizens’ data privacy, and to reshape the way organizations across the region approach data privacy.”

The winners of the 2017 CEE Deal of the Year Awards were announced at the first ever CEE Legal Matters Deal of the Year Awards Banquet last night in Prague. The biggest smiles in the joyous and music-filled celebration of CEE lawyering, perhaps, were on the faces of Partners from Avellum and Sayenko Kharenko, which, along with White & Case and Latham & Watkins, won the award both for Ukrainian Deal of the Year and CEE Deal of the Year for their work on the 2017 Ukraine Eurobond Issue (a story initially reported by CEE Legal Matters on October 2, 2017).

Rojs, Peljhan, Prelesnik & Partners, and Allen & Overy (together with Consultant Hugh Owen of Go2Law), have advised insurer Generali CEE Holding BV, a part of Italy's Generali Group, on its EUR 245 million acquisition of Adriatic Slovenica Zavarovalna Druzba d.d from financial group KD Group d.d. Ulcar & Partnerji and solo-practitioner Simon Gabrijelcic advised the buyers on Slovenian law matters, and Mayer Brown advised on English law matters.

In The Corner Office we ask Managing Partners at law firms across the region important questions about their unique roles and responsibilities. The question this time around: What was your favorite course in law school, and why?

The European Commission has just published its comprehensive proposal for the so-called "New Deal for Consumers", which aims to strengthen EU consumer rights and enforcement. This includes the proposal for a new Directive enabling certain qualified entities to seek redress on behalf of consumers who have been harmed by an unlawful commercial practice.

Slovenia: Fine-Tuning of the Tax System

In the beginning of 2018, Slovenia introduced several minor and mainly administrative changes to its tax legislation, mostly addressing and resolving inconsistencies in the legislation that had been detected in practice. 

The first recorded energy performance contracting project in Slovenia was carried out in 2002, and was soon followed by a number of other similar projects, notably in the public sector. Thus, energy performance contracts are not a new concept in the Slovenian business sphere, although it was not until 2014 that the country’s newly adopted Energy Act transposed Directive 2012/27/EC on energy efficiency and introduced a comprehensive definition of an energy performance contract. 

For the past five years the financial market in Slovenia has been characterized by a process involving the selling of non-performing loan and leasing receivables (“Receivables”), mostly to foreign investors. According to information published by the Bank of Slovenia, Slovenian banks still have approximately EUR 1.5 billion of non-performing loans on their balance sheets, and we expect to see more of these loans being sold in the next two years. 

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Slovenia Knowledge Partner

ODI is one of the leading independent corporate law firms in South-Eastern Europe and one of the fastest growing in the region with a team of 40 lawyers which provides legal services to a wide range of premier clients, including local and multinational corporations and financial institutions.  With permanent presence in all ex-Yugoslavia countries by offices in Slovenia, Serbia, Croatia and Macedonia and working desks for Bosnia and Montenegro ODI provides seamless service in the region for all cross-border projects and prides itself on an unmatched understanding of the business cultures in the region. The 4 core practice areas are M&A, Corporate Restructuring, Banking Finance and Dispute Resolution. ODI team has a reputation for successfully managing large and complex multi-jurisdictional transactions, disputes and projects, and delivering outstanding outcomes for clients.

Firm's website: http://www.odilaw.com/

 

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