Although, like many other CEE jurisdictions, Slovenia experienced major COVID-19-related market turbulence in the first half of 2020, the market has nonetheless seen some interesting developments as well – and more activity is likely to follow in Q3 and Q4.
As Europe begins a tentative re-opening following several difficult months of quarantining, social distancing, and working-from-home, we spoke to CMS’s Warsaw-based Employment Partner Katarzyna Dulewicz and Vienna-based Dispute Resolution Partner Daniela Karollus-Bruner for their perspective on the process.
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.
Over the past few years CMS advised the OTP Bank Group on an extensive series of acquisitions across Bulgaria, Moldova, and former Yugoslavia. This series of separate deals was shortlisted for CEE Legal Matters’ CEE Deal of the Year in each of the countries involved, actually winning the 2018 Deal of the Year for Bulgaria and the 2019 Deal of the Year Award for Montenegro. We reached out to Eva Talmacsi, who led CMS’s multi-jurisdictional team, to learn more about the firm’s impressive work on OTP’s behalf.
CBD products are the latest consumer fad, and demand and supply has significantly increased all over the world. The market for CBD products is projected to keep growing, and according to some estimates, the European CBD market should be worth some EUR 1.5 billion by 2023. Despite such rapid development and expansion, placing CBD products on the Slovenian market remains somewhat of a legal grey area.
Love them or hate them, conferences are a fundamental part of the successful commercial lawyer’s calendar. But time is precious. Those calendars are full. It’s vital for conference organizers to get them right, and critical for lawyers to choose wisely in determining which events to attend and which to skip.
In December 2013 and (for one bank) in 2014, the Bank of Slovenia – the Slovenian central bank –imposed various extraordinary measures on six Slovenian banks. These measures resulted in a comprehensive bail-in and the termination of not only all the shares in each bank but also all subordinated financial instruments issued by them.
Slovenian national air-carrier Adria Airways is one of many European airlines that filed for bankruptcy in 2019. While passengers with planned trips and prepaid tickets were left to their own ingenuity, the Slovenian Government worried about the effects of Adria Airways’ bankruptcy on Slovenia’s air traffic and important airline connections from Ljubljana Airport to other important cities and regions.
The recent upturn of the Slovenian real estate market has yielded a raft of new logistics projects and residential developments, as well as substantially increasing the scope and number of retail real estate transactions. A significant share of Slovenian retail properties changed hands, mostly as a consequence of the financial or organizational restructuring of the previous holders. This opened the market to both institutional and strategic investors.
The Deal: In July, CEE Legal Matters reported that the Slovenian office of ODI Law had represented AIK Banka and SKB Banka (Societe Generale’s Slovenian entity), on the EUR 36 million cross-border syndicated debt refinancing of the Don Don Group – a regional industrial bakers with plants in Slovenia, Croatia, Serbia, Bosnia and Herzegovina, Montenegro, and Bulgaria. Selih & Partnerji advised Don Don on the deal.
The significance of medical devices is most certainly on the rise, considering not only its importance to patients, for whom medical devices represent life enhancing products, but also developments in innovation, economics, and in the regulatory and legal sphere. Issues such as data privacy in the field of medical devices were not noticeable until connectivity became a trend in medical devices and the GDPR was adopted. Similarly, the possibility of a cyber-attack on a medical device connected to the Internet became a possibility. Even though the question of product liability has always been present, recent decisions by the European Court of Justice provided new interpretations of existing legal terms and, importantly, introduced product batch liability.
In addition to their traditional role guiding companies through legal and regulatory waters and managing disputes, General Counsels are increasingly called upon to provide input on strategic matters. An expert panel at the second annual Balkan GC Summit considered how this change in the nature of the General Counsel role is manifesting itself in the countries of the former Yugoslavia.
The wide usage of benchmark rates and their key role in the financial system requires that they be reliable and defiant to any manipulation. To ensure this, the EU undertook to reform the benchmark rate determination process and improve market confidence in them, resulting in the adoption of the EU Benchmarks Regulation (the BMR).