CEE Legal Matters

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  • Biris Goran Announces New Partners

    The Romanian Biris Goran law firm has announced that former Senior Associates Mihai Nusca and Ana Fratian have become Partners at the firm.

    Fratian joined Biris Goran in 2006, and specializes in domestic and cross-border transactions, as well as commercial leasing matters. She currently co-heads the firm’s Corporate/M&A department, where her practice focuses primarily on advising clients on M&A and private equity transactions. According to the firm, she has represented a variety of companies, individuals, and private equity funds active in areas such as agriculture, real estate, pharmaceuticals, travel, automotive, energy, and the leasing and financial services sectors. 

    Nusca joined Biris Goran in 2009 and has headed the firm’s Litigation Practice since 2012. Mihai has over 10 years experience in all forms of litigation, including commercial, administrative, and tax files at all levels of court, as well as arbitrations and before administrative authorities. Nusca also has experience on white collar crime matters, and has represented various multinationals in internal compliance reviews and actions against rogue employees. 

    Gabriel Biris, the firm’s co-Managing Partner, issued a statement asserting that: “As part of our long-term strategy for growth, Biris Goran showed continued commitment to retaining the best talent in the legal sector. Our two new partners have done tremendous jobs, have developed the practices they are heading and will continue to contribute to our success for years to come. We congratulate all our colleagues on their new roles and wish them every success in the future.”

    Biris Goran has also promoted Oana Olteanu and Teodora Otetea to Senior Associate and Senior Tax Advisor Sorin Biban to Tax Manager. 

     

     

     

  • Integrites Advises Olam Ukraine in Grain Business

    Integrites has acted as legal advisor to Olam Ukraine, a subsidiary of Olam International, a leading agri-business supplying products to over 13,600 customers worldwide.

    The company claims to have 23,000 employees world-wide, and to have “built a leadership position in many businesses including cocoa, coffee, cashew, rice and cotton.”

    Integrites’ lawyers advised the company on legal regulations and other aspects of grain trading activity, including the legal aspects of currency issues, risks hedging, and warehouse activity. The firm claims that “our advice allowed the company to duly protect its rights in relations with counter-parties in the Ukrainian grain market.” 

     

     

     

  • Kyriakides Georgopoulos Partner Invited to Join Hydrocarbon Research Concession Agreement Signing Ceremony

    Kyriakides Georgopoulos Law Firm Partner Gus Papamichalopoulos attended what the firm is describing as “the historic signing of the three concession agreements for hydrocarbons research in the areas of the Western Patraic Gulf, Ioannina, and Katakolo.”

    The signing ceremony took place on May 14, 2014 at the Greek Ministry of Environment, Energy and Climate Change, where Minister Ioannis Maniatis signed the agreements in the presence of  Evangelos Venizelos (the Greek Deputy Prime Minister and Minister for Foreign Affairs), Edward Davey (Her Majesty’s Principal Secretary of State for Energy and Climate Change), and and other foreign dignitaries, market leaders, and energy experts.

    According to the firm, the three concession agreements signed with three different concessionaires after unanimous approval by the tenders review committee were:

    • For the offshore area of the Western Patraic Gulf — the concessionaire is the joint venture of Hellenic Petroleum, Edison and Petroceltic;
    • For the onshore area of Ioannina — the concessionaire is the joint venture of Energean Oil & Gas and Petra Petroleum; while
    • For the area of Katakolo (both onshore and offshore) — the concessionaire is the joint venture of Energean Oil & Gas and Trajan Oil & Gas.

    The signing of these agreements marks the end of a two-year journey and paves the road for the first hydrocarbon research activities in Greece in decades. The area of Katakolo, in which reserves were discovered in 1982, expects to see production within the next three years.

    Papamichalopoulos, Head of the Energy, Natural Resources & Utilities and Oil & Gas practice groups at Kyriakides Georgopoulos, was invited by the Ministry to join the signing ceremony. He also represented the Institute of Energy of South East Europe (IENE) in his capacity as General Secretary, along with Yiannis Hadjivasiliadis, the Chairman of IENE. 

     

     

     

  • Hogan Lovells Exits the Czech Republic

    Hogan Lovells has decided to shut down its Prague office this summer following what it calls a “review of the market.”

    David Harris, global co-CEO of the firm, stated: “We have taken the decision to close the Prague office following a review of the market and our investment priorities. The partners in Prague understand the decision and are considering the possibility of the office becoming an independent local firm with an informal referral relationship with Hogan Lovells.  We are very grateful to all of our people in Prague for their hard work over the years.”

    In Prague, Miroslav Dubovsky, the firm’s local Managing Partner, confirmed the news: “Hogan Lovells has operated in the Czech Republic since 1991 working for both domestic and international clients. Obviously, global and local markets and priorities have changed since then. We firmly believe that we have a good practice and that there are market opportunities that we can take advantage of, including working with Hogan Lovells in the future. We look forward to the new challenges.”

    While it is not yet clear what date the closure will finalize, the aim of the firm is to complete it over the course of this summer. At the moment, the office has 14 fee earners, including Partners Miroslav Dubovsky and Pavel Skopovy, and 14 support staff. 

    The announcement come less than a month after Norton Rose’s decision to pull out of Prague, reported by CEE Legal Matters of April 24. Of the two Norton Rose Partners in the former Prague office, Corporate Partner Milana Chamberlain will return to the firm’s London office while Czech Partner Pavel Kvicala and his team have joined Havel, Holasek & Partners. 

  • Schoenherr Advises on Lasko Group Debt Restructuring

    Schoenherr has advised Slovenian creditor financial institutions in the debt restructuring of the Lasko Group, a major regional beverage manufacturer and distributor.

    The value of the outstanding loan debt addressed by this debt restructuring is EUR 330 million. The Lasko Group’s companies include Pivovarna Lasko d.d. (the largest brewery in Slovenia and a major brewery in the region), Pivovarna Union, and Radenska d.d. Radenci (Slovenia’s leading water distributor).

    Schoenherr advised the steering committee of the lenders of the Lasko Group. The steering committee consists of Hypo Alpe-Adria-Bank, UniCredit Banka Slovenija, Nova Ljubljanska banka, Nova KBM, and Abanka Vipa.

    According to Schoenherr the nature of the debt restructuring was unique in Slovenia because of the complex corporate structure of the Lasko Group, in which some lenders are simultaneously shareholders and in which various groups of lenders are present on different levels.

    Schoenherr’s lawyers working on the matter included Partners Maja Zgajnar, Alexander Popp, and Associates Branko Cevriz, Daniela Hohenegg, and Manuel Ritt-Huemer.

    The Lasko Group was advised by Wolf Theiss.

     

     

  • Sorainan Advises Bigbank on Commercial Dispute

    Sorainen’s Latvia office is representing Bigbank in a dispute with the Consumer Rights Protection Center of Latvia.

    The dispute involves commercial practices carried out by Bigbank when entering into consumer credit agreements.

    Bigbank is one of the largest consumer lenders in the Baltics and also operates in Finland, Sweden, Germany, Austria and Spain. The Sorainen team is led by Partner Rudolfs Engelis and Associate Edvins Draba.

     

     

  • KG Advises on Construction of Public Schools

    The Kyriakides Georgopoulos Law Firm (KG Law Firm) has advised that a new agreement for the construction of ten public schools in Attica, through the use of Public Private Partnerships (PPPs), has been signed. KG Law Firm acted as the legal advisor to the group of lenders in this transaction.

    The project includes the study, funding, construction, maintenance, and technical management of ten public schools for a period of twenty-seven years in the Municipalities of Athens (five schools), Heraklion (one school), Oropos (three schools), and Megara (one school).

    J&P Avax, the contractor, will fund and construct all schools by May 2016. In addition, J&P Avax will remain responsible for maintenance and technical management of the schools throughout the life of the agreement.

    The total cost of the investment is EUR 52 million and will be repaid by the Greek State upon the completion of the construction.

    The project is jointly funded by the European Investment Bank and the Jessica Fund.  Financing is broken down as follows: EUR 16.7 million from the EIB, EUR 16.7 million from the Jessica Fund through the National Bank of Greece , EUR 8.7 million from Alpha Bank, and EUR 9.9 million from the contractor.

    The agreement follows the signing of a related agreement on April 9 for the construction of fourteen schools, also in Attica. KG Law Firm is acting for the group of lenders in that transaction as well, with ATESE-Domiki Kritis as contractor.

    The twenty four schools will service 6,500 students, with total funding of EUR 110 million. KG Law Firm claims that these are the first PPPs in the EU jointly funded by the European Investment Bank and the Jessica Fund, creating a European model for the financing of social projects.

     

     

  • Asters Advises on MoA for Ukrainian Gas Supply

    Asters has advised on Ukrainian law matters relating to the Memorandum of Understanding signed between Eustream and Ukrtransgaz on a potential solution to the transmission of gas from Slovakia to Ukraine.  

    Tomas Marecek, the Chairman of the Board of Directors of Eustream, promised that the Slovak transmission system operator would do the maximum to facilitate the transmission of gas to Ukraine with the maximum possible volume enabled by the Vojany-Uzhorod gas pipeline, starting from the beginning of October this year. Marecek explained that “top representatives of the European Commission requested us to shorten the terms for technical preparations for launching the Vojany pipeline and to increase the capacity to a maximum. We promised that we would do everything in this respect within our technical possibilities and transmission regulations to ensure that in accelerated mode we will attain a volume of 8-9 billion cubic meters of gas a year.”

    Gunther Oettinger, the European Commissioner for Energy, who attended the signing ceremony, explained the significance of the deal. “It is important that Ukraine makes speedy progress in unifying its legal and regulatory framework with the energy legislation of the EU. This increases the trust of investors and helps the country modernize its energy sector.”

    Asters Senior Partner Armen Khachaturyan, who led the firm’s working team on the project, was proud of Asters’ role in the deal. “Cooperation between Slovakia and Ukraine on the reverse gas supply to Ukraine is extremely important for Ukraine under the current complex political and economic circumstances and we take it as a great honor to assist on this matter.”  Khachaturyan was assisted by Senior Associate Yaroslav Petrov.

     

     

  • Skadden Advises on Coffee Combination

    Skadden has announced that it is representing the JAB Holding Company Group – the controlling shareholder of D.E Master Blenders 1753 – as it combines its coffee business with that of Mondelez International.

    In 2013, Mondelez International’s wholly owned coffee business generated approximately EUR 2.9 billion in revenue, and D.E Master Blenders 1753 generated approximately EUR 2.5 billion in revenue. The two companies own some of the world’s leading coffee brands, such as Jacobs, Carte Noire, Gevalia, Kenco, Tassimo and Millicano from Mondelez International and Douwe Egberts, L’OR, Pilao and Senseo from D.E Master Blenders 1753.

    The new company, to be called Jacobs Douwe Egberts (JDE), will be based in the Netherlands, with an executive leadership team consisting of executives from both companies. The transaction, along with several related and secondary transactions, is expected to be completed in 2015, subject to regulatory approvals and the completion of employee information and consultation requirements.

    Upon completion of all proposed transactions, Mondelez International will receive cash of approximately USD 5 billion and a 49 percent equity interest in Jacobs Douwe Egberts, along with certain minority rights. AHBV – a company owned by an investor group led by JAB Holding Company – will hold a majority share in the proposed combined company and will have a majority of the seats on the Board, which will be chaired by current D.E Master Blenders 1753 Chairman Bart Becht. 

    “We’re delighted with this transaction and the substantial value we expect to create for our shareholders,” said Irene Rosenfeld, Chairman and CEO of Mondelez International.  “By retaining a significant stake in the combined company, we’ll continue to benefit from the future growth of the coffee category and share in the synergies and tremendous upside of this leading, one-of-a-kind coffee company.”

  • Sorainan Latvia Advises on European Commission Complaint

    Sorainen’s Latvia office has advised the Association Sabiedriba par atklatibu – Delna (“Delna”), the Latvian branch of the global coalition against corruption, Transparency International, in a pro bono matter concerning the Latvian authorities’ plans to purchase speed cameras outside of public procurement procedure boundaries.

    Back on September 25, 2012, the Cabinet of Ministers of Latvia decided to allow the country’s Public Procurement Law to be bypassed if the Ministry of the Interior decided to purchase speed cameras from a German company, Vitronic Dr.-Ing.Stein Bildverarbeitungssysteme. Delna intended to file an application with the Constitutional Court and to request that the European Commission assess the legality of this decision. Sorainen Latvia provided Delna with pro bono legal advice in the matter. The constitutional application failed, however, because Latvian law bars NGO from filing applications directly, and it did not gain the necessary support from Parliament members necessary to require them to do it.

    However, the complaint regarding the possible infringement of public procurement rules by the Latvian authorities caught the attention of the Commission. And in addition, Delna, again in cooperation with Sorainen, held a press conference informing the media about the alleged non-compliance of the authorities with regard to the so called “security exemption” rule under Directive 2014/18/EC.

    The Ministry of the Interior eventually decided not to proceed with the purchase of the speed cameras from Vitronic, officially on a financial basis.

    On April 8, 2014, after investigating the case, the European Commission provided a response to Delna’s complaint. However, since the Latvian authorities had not implemented the project and had not purchased the speed cameras, the investigation against Latvia was closed. Nevertheless, the Commission informed the Latvian authorities that Article 14 of Directive 2014/18/EC should be strictly interpreted, and the Commission expressed its intention to monitor future applications of this exception by the Latvian authorities.

    Sorainen Partner Agris Repss advised Delna through the process, with assistance by Senior Associate Raivo Raudzeps and Associate Andris Taurins.