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ODI Law has advised the seller -- a private individual -- on the sale of a 42.1218 % stake in Iskra to Taxgroup Gmbh, one of the existing shareholders of the company. The deal also involved the purchase by the firm's client of a share in Caveat Romanae, a Croatian subsidiary of Iskra.

When asked what’s happening in Croatia, Dusko Zuric’s answer is simple: "Agrokor is happening.” Zuric, the Managing Partner of Croatia’s Zuric i Partneri, sighs at the extent of the liquidity fallout from the implosion of Agrokor’s landmark 2013 acquisition of Slovenia’s Mercator, which created one of the biggest food and retail businesses in Central and Eastern Europe, but also resulted in the accumulation of almost EUR 6 billion in debt, leading Agrokor’s president and 95% owner, Ivica Todoric, to seek protection from creditors and to hand control of the group to the emergency administration controlled by the Croatian state and court, all under a newly passed law — nicknamed Lex Agrokor — creating a form of pre-bankruptcy protection for systemic enterprises.

The 2017 CEE Legal Matters General Summit took place at the Intercontinental Hotel in Warsaw on June 1-2, 2017, once again bringing together well over a hundred General Counsel and Heads of Legal from across Central and Eastern Europe for two full days (and one entertaining evening) of seminars, panel discussions, best practices review, and networking. This year’s event — the third annual, following the 2015 GC Summit in Budapest and the 2016 GC Summit in Istanbul — was the biggest and most successful yet.

On May 31 and June 1, 2017, CEE Legal Matters was proud to host a rare event: A gathering of those senior lawyers from each Central and Eastern European country identified by peers as being most influential, most important, most uniquely responsible for having created the country’s modern commercial legal market.

Divjak, Topic & Bahtijarevic, working alongside Gide Loyrette Nouel, has advised BNP Paribas Cardif Insurance in the sale of its Croatian entity to Croatia Osiguranje, the largest and oldest insurance company in Croatia, making Croatia Osiguranje the sole owner of BNP Paribas Cardif Insurance in Croatia. The signing took place on May 24, 2017, although the transaction remains subject to final approval by the Croatian Financial Services Supervisory Agency. Croatia Osiguranje was advised by Praljak & Svic.

Even if you are not a lawyer, you must have heard about the so called “right to be forgotten.” You may know that it is a privacy right that allows you to demand removal of your personal information from web search results produced by a search engine and published on the Internet. The question is who is obligated to remove your personal data from the Internet upon your request. The answer is simple – the operator of that search engine, even if it is not located in your country of residence. For some mysterious reason, this simple answer does not appear to be clear to everyone.

Despite a still-shaky business environment in the Adriatic region we have again experienced another very exciting year, which once made our transaction teams busier than they were the year before.

The Adriatic Legal Network has announced that Bosnia & Herzegovina's Sajic and Macedonia's Pepeljugoski law firms have joined the alliance formed in June of last year by Serbia's Joksovic, Stojanovic and Partners, Slovenia's Miro Senica and Attorneys, and Croatia's Kallay and Partners law firms.

Dorda Rechtsanwalte has advised Austrian real estate investor and developer Supernova Group in its successful acquisition of four DIY retail properties in Croatia: The Garden Mall shopping center in Zagreb, two retail parks in Koprivnica and Sisak, and one property in Pozega. For the Croatian legal aspects, Dorda collaborated with Pecarevic & Relic.

In Croatia, acquiring a company’s own shares is often a useful tool for the implementation of management and employee reward plans, employee stock ownership plans (ESOP), and various bonus policies of joint stock companies. The company would normally acquire a desired number of its own shares and distribute them to selected employees according to a reward program. EU legislation describes these programs as “buy-back programs.”

Croatian Knowledge Partner

Čipčić-Bragadin Mesić & Associates is one of the leading law firms in Croatia that serve companies, credit & financial institutions and public entities. We have been recommended and recognized as the legal experts and service leaders by many leading international legal guides for more than 15 consecutive years. With roots dating from 1928. we now probably have more tradition, experience and market presence than almost any other law firm in Croatia. We work closely with the leading international law firms and consultants so we’re able to manage complex, cross-border projects and deals seamlessly and successfully. Around 85% of our clients are international enterprises doing business in Croatia. List of our clients include some of the world-renowned companies such as Amazon Europe Core, China Machinery Engineering Corporation, Tate & Lyle, Nafta a.s., Unilever Croatia, Unilever Hungary, Lenovo, Innoenergy CE, Flixmobility, Flixbus CEE South, Okoenergie Group, CTC Holding, Bunge Limited, Chipita, Rolls-Royce, Canvas Holidays, Vacalianselect, Redgate Software, Red gate Investment, Yahoo!, Aston Martin Lagonda, Domino Printing UK, Domino Printing Sciences, Goldman Sachs, Deutsche Bank, Barclays Bank, HSBC, State Street Bank, Citigroup Global Markets, Credit Suisse, Bank of America Merill Lynch, Standard Chartered, Och-Ziff Capital Management, Amundi Asset Management, Altima International, Red Arc Global Investments, SMBC Nikko Capital Partners, Royal Bank of Scotland, Morgan Stanley International, J.P. Morgan group, Allianz Global Investors, Schroders, Macquarie Bank, Digital Finance International, Winton Capital Management, Citibank, Invesco Asset Management Österreich, Croatian Pension Investment Company, Unicredit Bank AG etc. We enjoy learning about our clients’ businesses and want to understand them completely so we can provide the best possible and complete service.

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Firm's website: cipcic-bragadin.com

 

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