CEE Legal Matters

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  • Wardynski & Partners Launches New Practice

    Wardynski & Partners announced it is launching a new interdisciplinary practice to provide regulatory, tax and transactional advice in the area of new technologies.

    The “New Technologies” practice is meant to cater to the needs of companies operating in a number of fields: biomedical and modern foods, creative industries, crowdfunding, cybersecurity, e-commerce, financing of new technologies, gaming, information technology, new payment solutions, new technologies in searching for energy, public-private partnership projects (PPP), protection of privacy, research and development (R&D), and telecommunications.

    The team will be led by Partners Anna Pompe — the co-head of the Wardynski & Partners intellectual property practice — and Krzysztof Wojdylo, a member of the firm’s regulatory and payment services practices. Other members of the team include tax adviser Joanna Prokurat and technology adviser Krzysztof Rutkowski.

    “For us, new technologies are all about new legal challenges,” said Wojdylo. He added that “businesses in this sector have issues with the legal classification of innovative goods and services, as innovations develop more quickly than the legal system can regulate them. This creates demand for highly specialized legal services targeted to specific segments of the new technologies market. Lawyers advising in these areas must have a firm understanding of the nature of innovation as well as the particular industry.”

     

     

     

  • Schoenherr Announces Update to America Movil Takeover of Telekom Austria

    Schoenherr has released a statement updating the a story initially reported by CEE Legal Matters on April 24 on the negotiation and completion of a shareholders’ agreement between OIAG and America Movil regarding shares the two hold in Telekom Austria.

    As explained previously, the shareholders’ agreement – once all regulatory approvals are completed – will trigger a mandatory takeover offer that has to be made by America Movil, and provides for a capital increase in Telekom Austria of up to EUR 1 billion.

    A statement just released by Schoenherr explains that the public offer mandated by the Shareholders’ Agreement has been launched, at a price of EUR 7.15 per Telekom Austria share – thus the volume of the public offer exceeds EUR 1.4 billion — and with a duration of 8 weeks (until July 10, 2014).

    Schoenherr advised Carso-Telecom AMX on the shareholders’ agreement, and on all aspects of the public takeover offer. The public offer remains subject to regulatory approvals and provides for a conversion possibility into a mandatory offer.

    Schoenherr advised Carso Telecom/AMX on all aspects of the preparation and launch of the public offer. The firm’s team was led by Partner Christian Herbst, assisted by Partner Florian Kusznier and Associates Sascha Schulz and Maximilian Lang. Partner Volker Weiss and Associate Evelin Hlina worked on the matter as well.

  • Wolf Theiss Advises on Debt Restructuring of Pivarna Lasko

    Wolf Theiss Advises on Debt Restructuring of Pivarna Lasko

    Wolf Theiss has announced that it has advised the Slovenian Pivovarna Lasko brewery on a EUR 300 million debt restructuring.

    Markus Bruckmuller and Nikolaus Paul

     

    Markus Bruckmuller and Nikolaus Paul (Wolf Theiss)

    The brewery entered into a standstill and restructuring agreement with as many as 18 banks – among them the Slovenian NLB, Hypo Alpe Adria Bank, and Abanka – representing EUR 330 million of the beverage group’s debt. On the part of the beverage group, Pivovarna Lasko, Pivovarna Union, and Radenska signed the agreement with the banks. The restructuring is M&A-driven and is based on a divestiture of the group’s assets – such as the group’s shares in Mercator, Radenska and Delo – and on the anticipated entrance of an investor. Negotiating the deal, Wolf Theiss advised the beverage group on all relevant legal aspects of the debt restructuring, including the conditions of further lending, other contractual commitments, corporate changes, and questions of financial law.

    Dusan Zorko, CEO of the Pivovarna Lasko Group, stated: “Signing the restructuring agreement with all these lenders was a huge and important step for us. It took more than a year of intense preparation and negotiations to come to this result that secures the future of our group. We would not have succeeded in achieving this outcome without Wolf Theiss, who contributed with their overall commitment, international experience and local knowledge. They performed outstandingly.”

    Markus Bruckmuller, head of the Slovenian practice of Wolf Theiss, commented: “The agreed solution with the banks not only constitutes an important step forward for the beverage group, but also sends a very strong signal to the Slovenian economy, where they and their banks play a significant role. It was a challenge to align so many diverse interests. Together, we were able to demonstrate that this is, indeed, doable even in the present market environment. All people involved in the deal can be very proud of that achievement.”

    Wolf Theiss’s team was led by Partners Bruckmuller and Nikolaus Paul, assisted by Senior Associate Klara Miletic.

    Financial advisor to the beverage group was A.T.Kearney. The steering committee of the lenders was represented by Schoenherr.

     

     

  • Astapov Partner Elected Head of IP at UBA

    Astapov Lawyers has announced that Partner Natalia Meshcheriakova, the Head of the firm’s Intellectual Property Department, has been elected as a Head of Intellectual Property and Advertising Law Committee at the Ukrainian Bar Association (UBA) for the third time in a row.

    Astapov describes Meshcheriakova as “a court-accredited intellectual property expert with the right to conduct examinations of literary and artistic works, industrial designs, commercial (brand) names, trademarks and geographical indications, commercial names, know-how, and domain names.”

    Meshcheriakova was generous in her acceptance. “I thank my colleagues at the UBA for their kind support and appreciation of my contribution to the organization of the committee’s activities. I would like to assure all UBA members and legal market players that I will do my best further effective dialog on topical issues in the intellectual property sphere.” 

    Earlier this week CEE Legal Matters reported that Arzinger Senior Associate Stanislav Gerasymenko was elected Chairman of the UBA’s Real Estate and Construction Committee. 

     

     

  • Sorainen Advises Sanoma on Sale of Apollo to Eesti Meedia

    Sorainen announced that it has advised Sanoma, a European consumer media and learning company, on the divestment of its Apollo online news service in Latvia.

    The firm described the divestment as being “in line with Sanoma’s strategy of focusing its operations and divesting selected ownerships.” Apollo was acquired by Eesti Meedia, a leading media group in the Baltics.

    Net sales for Apollo totaled around EUR 800 thousand in 2013. As part of the transaction, Apollo’s employees will transfer to the new owner. 

    Sanoma employs over 10,000 professional employees in Europe, with key markets in Finland, The Netherlands, Belgium, and throughout Central & Eastern Europe. 

    Sorainen’s support included assisting in drafting and negotiating the transaction documents.

     

     

  • Hogan Lovells Replaces MP for Continental Europe

    Just days after announcing that it is closing its Prague office, Hogan Lovells has announced a series of changes to its International Management Committee (IMC) effective as of July 1,2014 — including the news that Continental Europe Regional MP Christoph Kueppers will be stepping down, to be replaced by Madrid-based Partner Burkhart Goebel.

    According to Hogan Lovells, “the IMC is the body that is responsible for setting and implementing the strategic direction and business operations of the firm and is made up of the heads of Hogan Lovells’ five practice groups and five administrative regions.” The other changes announced by the firm include the addition of four new members (Cole Finegan, David Gibbons, Burkhart Goebel, and Sharon Lewis), and that (1) Steve Immelt will be stepping down as co-head of Litigation, Arbitration and Employment to become Hogan Lovells’ CEO, so that the practice group will now be solely led by Michael Davison (current global co-head); (2) David Hudd will be stepping down from the role of Finance practice group head to become deputy CEO, to be replaced by Paris-based Finance Partner Sharon Lewis; (3) Andrew Skipper and Stuart Stein will be stepping down from their roles as Corporate practice group co-heads, and the group will now be led solely by Baltimore-based Partner David Gibbon; and (4) Dennis Tracey will be stepping down as RMP for the Americas, to be replaced by Denver-based Cole Finegan.

    According to incoming CEO Steve Immelt: “I would like to take this opportunity to express my sincere appreciation to those members of the IMC who are stepping down for their considerable contribution, in many cases stretching back a significant number of years. The changes that I am making are designed to build on what we have achieved under the leadership of David and Warren. They are designed to reinforce the foundations for the continued growth and development of the firm.” 

        

     

     

  • Wolf Theiss Helps Adria Steel Open Algerian Market

    Wolf Theiss Helps Adria Steel Open Algerian Market

    Wolf Theiss has announced that the firm’s Zagreb branch successfully assisted Split-based Adria Steel in enabling customs-free exports of Croatia-produced steel products to Algeria. Adria Steel is wholly-owned by Techcom.

    Silvije Cvjetko and Dora Gazi Kovacevic

     

    Silvije Cvjetko and Dora Gazi Kovacevic (Wolf Theiss)

    Although Croatia joined the EU on July 1, 2013, the Algerian customs authorities had failed to extend the application of the EU/Algeria Association Agreement to Croatia and continued to impose a 15% customs tariff on Croatian steel products. Adria Steel sees Algeria as a critical market, and the imposition of the customs tariff made the company less competitive than its major EU competitors. 

    According to Wolf Theiss, the firm “directly engaged with senior officials from the European Commission and Croatian Government to find a remedy,” and “potential proceedings against the European Commission before the European Courts in Luxembourg were also explored.” The results were successful, as free access to the Algerian market was secured. Wolf Theiss released a statement explaining that “the removal of those discriminatory barriers for Croatian steel producers is an important milestone for Adria Steel in resuming full capacity production and employment and being able to announce further investments in modernizing its facility. These developments further Adria Steel’s goal of becoming one of the ten best and most profitable steel producers in Europe.” 

    The Wolf Theiss team was led by Silvije Cvjetko with the support of Dora Gazi Kovacevic, Andrej Bolfek and Luka Colic.

    Edgar Schumacher, the CEO of Adria Steel, commented: “We really appreciated Wolf Theiss’ know-how on EU law, contacts with the competent authorities, and excellent German speaking capabilities. They really provided expert and wide-ranging support and were crucial in getting us to the right result. We would also like to thank the Croatian Minister for Economy, Ivan Vrdoljak, Minister of Foreign and European Affairs, Vesna Pusic, and their hardworking teams in Zagreb, Brussels and Algeria, for such invaluable help. Their efforts have directly led to more Croatian jobs and investment.”

    Silvije Cvjetko of Wolf Theiss added: “Our immediate attention to this matter, in-depth understanding of the client’s business and positions, regular intense interaction with the responsible EU and Croatian officials, and, most importantly, not taking ‘no’ for an answer, led to the positive resolution of this matter.”

     

     

  • Arzinger Lawyer Coaches at Arbitration School in Kiev

    Arzinger Senior Associate Volodymyr Yaremko served as coach for the claimant’s team at the II Arbitration School organized by the Ukrainian Arbitration Association and UBA’s Students League for Ukrainian and foreign students and young lawyers.

    The 5-day program, which took place in Kiev on May 7-11, 2014, included a simulation of an arbitration process under UNCITRAL rules, during which the participants were asked to work on the claimant’s or defendant’s team and prepare a request for arbitration, the reply to the request, the statement of claim, and the statement of defense – then participate in oral hearings.

    Yaremko specializes in complex cross-border cases and dispute resolution at international commercial and investment arbitration centers. He also has experience serving as arbitrator and coach by different litigation/arbitration moot courts; he also coached the team of the Lviv Franco National University for the Willem C. Vis International Commercial Arbitration Moot in Vienna.

     

     

  • Wolf Theiss Prevails Before Polish Supreme Court

    The Polish Supreme Court has ruled that rents collected in the course of bankruptcy proceedings by a bankruptcy receiver out of real property encumbered with a mortgage are part of a separate distribution plan, and thus may only be paid out to the creditors holding such mortgage.

    The ruling was triggered by an appeal filed on behalf of an international commercial real estate financing bank against a refusal to award to the bank all the rents — approximately EUR 2 million — collected in the course of bankruptcy proceedings by the bankruptcy receiver out of two office buildings charged with the bank’s mortgages. 

    Wolf Theiss represented the bank before the court. Previously the bank had been awarded EUR 20 million following a successful complaint filed by Wolf Theiss after taking over the matter from another (and unnamed) international law firm.

    Wolf Theiss Counsel Daniel Klementewicz explained the significance of the decision: “The Supreme Court ruling is of great importance for the commercial real estate market in Poland as it ensures the fullest possible scope of a mortgage and a coherent practice of the bankruptcy courts and the receivers in Poland. Prior to the ruling, proceeds out of real property were usually distributed in a general division plan as they were treated as profits generated by the bankrupt’s enterprise.”

     

     

  • Weil Announces Role on Coffee Merger

    Weil has announced that New York Partners Daniel Dokos and Douglas Urquhart have led a team advising J.P. Morgan, Bank of America Merrill Lynch, and Morgan Stanley, as joint lead arrangers, in the financing for the combination of the coffee business of Mondelez International and D.E Master Blenders (announced by CEE Legal Matters on May 14).

    Dokos heads Weil’s Global Finance practice, and Douglas Urquhart heads the firm’s US Banking & Finance practice. Other Weil lawyers working on the deal included Banking & Finance Partners Danek Freeman, Stephen Lucas, and Chris McLaughlin; Private Equity Partner Simon Lyell; Antitrust/Competition Partner Douglas Nave; Tax Partner Larry Gelbfish; Technology & IP Transactions Partner Jeffrey Osterman; Banking & Finance Counsel Roshelle Nagar; Executive Compensation Counsel Jeffrey Lieberman; Banking & Finance Associates Heather Viets, Kristopher Villarreal, Peter Puk, Young Lee, Justin D. Lee, Mei Dan, Patrick Brendon, Amy Kennedy, and Evgeny Zborovsky; Private Equity Associate Lewis Blakey; Tax Associate Andrew Pelzer; and Trainees Charles Osborne and Nathalie West.