The Polenak Law Firm has advised the EBRD on its EUR 5 million loan to SME Aktiva, including transaction advice and security documentation in North Macedonia.
Boyanov & Co in Bulgaria, NNDKP in Romania, and the Polenak Law Firm in North Macedonia have advised Norway's LINK Mobility Group on its June 29, 2019 acquisition of all five of Allterco's telecommunications subsidiaries in Bulgaria, Romania, and North Macedonia. Bulgaria's Forlexa law firm reportedly advised Allterco on the deal.
After the announced reform of the public procurement procedures in 2017, at the beginning of this year the National Parliament adopted the new Public Procurement Law (“Law”). This new piece of legislation embodies the current EU public procurement rules and sets the legal landscape which is expected to result with transparent and efficient spending of public funds. The Law entered into force on 1 April 2019, but its applicability will be de facto prolonged in practice due to the start of the presidential elections.
“The talk about the entrance of two regional players – CMS and Schoenherr – onto the Macedonian market last year is still on everyone’s lips (among lawyers),” says Apostolska & Partners’ Founding Partner Emilija Apostolska-Temov in North Macedonia, who says that the presence of such law firms in the market will undoubtedly influence business, increasing both the quality of legal services and competition. “It also gives us a hint about investments coming in – such big law firms would not come without any plans,” she says. “They must know something that the rest of us will learn later. I think it will be a positive experience.”
Ever since “legal tech” became a thing, lawyers have been dreadfully anticipating the time when technology will disrupt the legal profession. The media has been fuelling lawyer worries, and attention-grabbing headlines like “The robot lawyers are here – and they are winning” or “Lawyers could be replaced by artificial intelligence” have kept lawyers awake at night. Artificial intelligence (AI) and machine learning in law has become the talk of the town, and for good reason, as the use of legal technology helps lawyers to get things done more efficiently and cost-effectively. Thus, it does not come as a surprise that legal tech start-ups are becoming the Starbucks of the legal profession – they are popping up on every corner. It is estimated that there are over 1000 legal tech start-ups worldwide and that the legal tech industry is worth USD 15.9 billion globally.
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).
The western Balkan countries of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, Serbia, and the Republic of Macedonia share the desire to join the European Union. Two of these countries — Albania and Macedonia — are particularly close to accession. we spoke to several lawyers to learn more about how accession could affect the business landscape and the work of lawyers in the two countries.