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“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.

The terms of a loan agreement dictate the circumstances in which a lender can enforce its loan, guarantee, or security interest. In North Macedonia, a lender can usually demand loan acceleration (repayment before a scheduled maturity date) if the borrower defaults under the loan agreement. Security documents state when the lender can enforce the security, usually following a default under the loan agreement or the lender’s demand for repayment when due. A lender can generally demand payment under a guarantee as soon as the borrower fails to pay any guaranteed obligation when due. However, the claim under a guarantee will be limited to the overdue amount. A lender will therefore often need to accelerate the loan before it can make a full claim against a guarantor. Typically, under the finance and the security documents, lenders have the right to accelerate and enforce loans when borrowers become insolvent.

Efficient energy consumption, reducing CO2 emissions, and energy from renewable sources have been in the spotlight of the European Union for a while now. Although the Republic of Slovenia has not attained the goals envisaged by the EU by 2020 – i.e., a 20% share of energy produced from renewable sources (i.e., 20% increase in energy efficiency and 20% reduction in CO2 emissions) – it remains above the EU average in that regard. Renewable energy sources amount to less than 3% of the overall energy produced in Slovenia, with the rest acquired through nuclear power (40%), fossil fuels (33%), and hydro energy (25%), allowing for substantial growth of the former in the future.

In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What major initiative or new plan does your office (or firm) plan – if any – for 2020?

Attendees to the 2019 CEELM Winter Party were cornered, over the course of the evening, and asked, without warning or an opportunity to prepare, what achievement over the past 12 months they were proudest of.

The Buzz in North Macedonia: Interview with Gjorgji Georgievski of ODI Law

“The Parliament was disbanded in February and we’re reaching peak election campaign time,“ begins Gjorgji Georgievski, Partner at ODI Law in North Macedonia. “Election day is April 12, and the heat is on.“ Georgievski believes that the election between the ruling Social Democrats and the right-wing opposition VMRO-DPMNE party is going be tight.