"Albania right now has a loaded political and economic situation,” says A.R.S. Legal & Financial Services Manager and Attorney at Law Elisabeta Nezaj, "considering the earthquake that hits on November 26th." That 6.4-magnitude earthquake that hit northwestern Albania was felt mainly in Durres and Tirana and as far away as Taranto and Belgrade, ultimately killing 51 people in the country — making it the world’s deadliest earthquake in 2019 — and causing massive damage to homes and infrastructure. According to her, "all government bodies are focused on providing help for the people who suffered from this event, and we are taking support from other governments to reconstruct the buildings that were damaged.”
“Where do you see yourself in 5 or 10 years?” the Cravath partner in New York asked after fifteen or so minutes, thereby signaling that the interview was coming to an end, expecting to hear the standard reply emphasizing the applicant’s desire to work hard if offered the position. “Home,” I replied. “In Albania.”
The fiscal aspects of the hydrocarbon sector in Albania will be soon governed by a new law. The new draft “On the Fiscal Regime for Petroleum Operations” law (the “New Draft Law”) was initially published in the Electronic Register of Public Announcement and Consultations on April 4, 2019 and has been circulated for comment among stakeholders, chambers of commerce, and experts’ associations in Albania.
Boyanov & Co., Kalo & Associates, and Hugh Owen of Go2Law have advised Albania Telecom Invest, a joint venture of entrepreneurs Spas Roussev and Elvin Guri, on its EUR 50 million acquisition of Telekom Albania from OTE (Deutsche Telekom). White & Case and Wolf Theiss advised the sellers on the deal, which remains subject to closing conditions, including the approval by the competent local authorities and financing, and is expected to be completed within the first half of 2019.