Lawin has acted for Nordea Bank Estonia and Swedbank in two major syndicated financing transactions for the Alexela Group — a consortium involved in the energy sector, real estate, and the metals industry.
The firm also acted for Alexela Oil, a subsidiary of the Alexela Group that owns the largest chain of filling stations in Estonia.
The Lawin team consisted of Partner Marina Tolmatshova, Associate Kristjan Kotkas, and Junior Associate Mattias Tammeaid.
DLA Piper has announced the beginning of the All-Ukraine Competition for Law Students 2015. The competition is for 4th and 5th year law students studying at Ukrainian universities. Winners of the competition will receive a one month internship in the Kyiv office of the firm.
The Judging Panel of the 2015 Competition includes DLA Piper Managing Partner Margarita Karpenko and Head of Real Estate Natalia Kochergina, Head of Legal at the Ministry of Education and Science in Ukraine Kravchenko Olga, and a number of Heads of Legal from major Ukrainian companies.
According to a statement on the DLA Piper website, “application forms and written essays should be submitted before 23 February 2015. Round tables with semi-finalists and the award ceremony will take place during April 2015 after all necessary reviews have been completed.” As in previous years, the competition is supported by the Ministry of Education and Science of Ukraine, the Students’ League of the Ukrainian Bar Association, and the European student’s forum AEGEE-Kyiv.
Further information about the competition 2015 can be found on the DLA Piper website.
Doubinsky & Osharova has successfully persuaded the Supreme Administrative Court of Ukraine to uphold the June 12, 2014 decision of the Kyiv Administrative Court of Appeal in support of the makers of the Flukold Plus cough and cold remedy, made by Nabros Pharma in India.
The court of first instance, the District Administrative Court of Kyiv, had on March 17, 2014 granted the claim of the “Ukrainian Social and Legal Movement: Democracy Through Law” association, and had annulled the re-registration of the Flukold Plus. The Kyiv Administrative Court of Appeal then reversed that decision, and on December 10, 2014, the Supreme Administrative Court of Ukraine confirmed that reversal.
According to Doubinsky & Osharova Partner Anton Koval, who led the firm’s representation of Nabros Pharma, the decision of the Supreme Administrative Court of Ukraine is “an important law enforcement document that confirms the lack of rights of a social organization to appeal to the court to annul the re-registration of the medical product Flukold Plus.”
A statement released by the firm concluded that: “We would remind you that ‘Flukold Plus’ is one of the leading product of Indian pharmaceutical company, that is used to treat coughs and colds and is implemented on the territory of Ukraine for many years.”
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Borenius Partner Zygimantas Pacevicius has expressed his disappointment in the decision of the Vilnius City District Court in favor of defendant Andius Kubilius and against Borenius client and plaintiff Ramunas Karbauskis, the chairman of the Lithuanian Peasant and Greens Union.
The case involved Karbauskis’ claims that Kubilius had, by speaking about Karbauskis’s business connections with Russia, defamed and slandered him. Pacevicius, speaking about the verdict in the civil case, explained that: “we respect the decision of the court, however, we see that the court did not consider and pronounce on the majority of our arguments, did not evaluate the significant factual background of the case, the interconnection between the context of publications on the dispute and the statements. These reasons conditioned the adoption of incorrect and unfounded court decision. For this reason the client intends to appeal against it.”
Karbauskis has claimed that, despite the decision to dismiss his claim, the proceedings established facts proving that “Kubilius comments were just a public relations campaign, which was aimed at discrediting political rivals, namely me.“ He has also claimed that Kubilius admitted in court that he had no evidence that Karbauskis’s work was influenced by Russia.
Weber & Co. has advised Erste Group Bank as arranger and structuring agent on the issuance of EUR 50 million fixed-income notes by a securitization company incorporated under Luxembourg law.
According to a statement released by the firm “the notes were issued for the financing of loans granted to microfinance institutions outside of Europe, combining a sustainable and ethical investment with an attractive return for investors.” Weber & Co. acted as transaction counsel in the structuring process and Austrian law counsel.
The notes in an aggregate principal amount of EUR 50 million were issued on December 17, 2014, by compartment MF One of Sus Bee Finance, a securitization company incorporated under Luxembourg law. The notes, which provide for a term of three years and a coupon of 3.625 per cent, are subject to German law and admitted to trading on the regulated market of the Luxembourg Stock Exchange. Erste Group Bank placed the notes exclusively with institutional investors, in particular in Germany and Austria.
From the net proceeds of the notes, the issuer purchases US dollar-denominated loans which have initially been granted to international microfinance institutions by Guevoura Fund Limited under the loan management of Frankfurt School Financial Services. By means of one tranche of notes, investors are able to participate in the loan portfolio comprising 28 loans granted to microfinance institutions in Central, South, and South East Asia, Middle and South America, and the Caucasuses.
Christoph Moser, Partner at Weber & Co., who led the transaction, was pleased about the successful issuance: “The notes are an innovative new product combining both a sustainable and ethical investment in the field of microfinance and an attractive return for investors. Headed by Erste Group as arranger, all parties involved in the transaction showed outstanding commitment to successfully overcome the challenges that embrace a multi-jurisdictional transaction with very tight time frames.”
White & Case Partner Karsten Wockener led the firm’s team offering legal advice to Erste Group on to German and English law. Kaufhold Ossola & Associes, Avocats, led by Rudiger Sailer, acted as legal adviser as to Luxembourg law.
Tuca Zbarcea & Asociatii has announced 11 internal promotions, including one to Partner, following an internal evaluation process that was undertaken in November and December of this year.
The new Partner at the firm will be energy lawyer Sebastian Radocea, who specializes in energy law and corporate M&A. He has been with the firm since May 2005.
The other 10 lawyers identified in the Tuca announcement were promoted either to Managing Associate (Andreea Lisievici-Lefter, Patricia Enache, Mihai Ene, and Dana Busini) or Senior Associate (Olga Cobasneanu, Maxim Dogoter, Mariana Sturza, Ruxandra Nisa, Ruxandra Frangeti, and Alexandru Moldoveanu).
Florentin Tuca, Managing Partner of the firm, stated: “The consolidation of our team still is our primary objective, regardless of how pompous or euphemistic it might sound. Human resources represents the most precious firm capital, a capital which we’ve increased throughout the last few years both in terms of numbers as well as value.”
The promotions will be effective as of January 1, 2015. Last year’s promotion round (which became effective on January 1, 2014) included three partner appointments: Cristian Radu (Corporate/Commercial/M&A), Vlad Cercel (IT/TMT and PPP/Concessions), and Dragos Apostol (Privatization and M&A).
The Nota Bene law firm in Russia has hired intellectual property lawyer Kirill Belyakov, who joined the firm on December 1, 2014, as Partner.
According to a Nota Bene press release, Belyakov worked in “one of the largest companies in the military-industrial complex of the Russian Federation, then the leading consulting company providing services to a wide range of clients from Finland, Sweden, Denmark, Italy, Spain, Holland, Belgium, Germany , Switzerland, Poland, the USA, Japan, China, Korea, and others.” He has more than 12 years of professional experience in the fields of civil, land, tax, and customs law, as well as in labor and immigration law. He also specializes in providing legal support for start-up projects in Russia, the settlement of disputes with state and non-state actors, and the protection of intellectual property. He has “represented the interests of the diplomatic missions of foreign states in the Russian courts, provided legal support of foreign contractors in major investment projects oil and gas industries, and protected intellectual property rights of famous Russian composers, playwrights, and their heirs.”
“I am pleased to add Kirill Belyakov to our team,” said Managing Partner Osip Rumyantsev, “as his professionalism and experience both in the field of dispute resolution and other main branches of law will enable us to strengthen key areas of the company.”
Zivkovic Samardzic has secured a victory for Vojvodanska banka Novi Sad, a member of the National Bank of Greece Group in a EUR 13.5 million dispute with Sojaprotein Becej, the largest soybean processor in Serbia.
According to a Zivkovic Samardzic press release, the dispute stemmed from a bank guarantee issued in 1979 by the legal predecessor of Vojvodanska to a German creditor of Sojaprotein. The credit was later subject to refinancing and finally taken over by the former Federal Republic of Yugoslavia (FRY) as a result of its negotiations with Paris and London Club creditors. According to the 2002 Law governing the relations between the FRY and legal entities and banks within the territory of the FRY, Vojvodanska — as the legal successor of the original guarantor was released from its liabilities towards Sojaprotein’s creditor — while liabilities that were created towards the FRY, (i.e. its member states), were converted into the bank’s shares. At the same time, Sojaprotein as the original debtor was obliged to settle its debt with Vojvodanska.
Since Sojaprotein declined to settle the debt, Vojvodanska banka instituted court proceedings in 2005 and won a first instance decision in 2009 at the Commercial Court in Novi Sad. However, that decision was later quashed by the Commercial Appellate Court upon Sojaprotein’s appeal and in a subsequent retrial the Commercial Court in Novi Sad rejected the claim of Vojvodanska banka. The lawyer originally representing Vojvodanska was Milos Vucevic, who since has entered politics and is now the major of Novi Sad. Uros Keca and Branislav Gavanski originally represented Sojaprotein with the latter of the two lawyers later joining the Novi Sad-based firm Bajic & Popovic.
For the appellate proceedings, the bank, which had been acquired by the National Bank of Greece Group in the interim, decided to retain Zivkovic Samardzic. The appeal was successful and in December 2012 the Commercial Appellate Court in Belgrade reversed the first instance decision and obliged Sojaprotein to pay the full EUR 13.5 million in 2013.
Sojaprotein submitted a revision to the Supreme Court of Cassation of Serbia, but that court only upheld the second instance decision of the Commercial Appellate Court in Belgrade. Sojaprotein then lodged a constitutional appeal that lead to a decision of the Constitutional Court of Serbia, brought, according to Zivkovic Samardzic, “in a non-transparent proceeding that the bank was not able to participate in, nor even notified of, ordering a retrial in revision proceedings at the Supreme Court of Cassation.” Finally the Supreme Court of Cassation, in a decision recently delivered to the parties, while rectifying the concerns of the Constitutional Court, once again confirmed the decision of the Commercial Appellate Court in Belgrade in favour of the bank.
The Zivkovic Samardzic team representing Vojvodanska was led by Milos Milosevic, Partner in the Dispute Resolution practice. At the Supreme Court of Cassation of Serbia and at the Constitutional Court of Serbia, Sojaprotein was represented by Vladimirka Milicevic.
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Egorov Puginsky Afanasiev & Partners Ukraine has advised Leonardo and Univermag Ukraina, a major business center and shopping mall in downtown Kyiv, across what it describes as “a spectrum of transactional and real estate matters.”
The firm’s support included negotiation and registration of leases, advice on land matters and operational issues and risks related to commercial real estate in downtown Kyiv, and general advice on related-Ukrainian law matters.
The firm’s real estate team was led by Counsel Oleg Boichuk, who was supported by Associate Yuriy Volovnik.
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Schoenherr has advised Vienna Insurance Group (VIG) on its acquisition of the Jasna 26 and Libra Business Centre office buildings in Warsaw from Mermaid Properties, which had invested in and developed both projects. Magnusson advised Mermaid Properties on the deal. Real estate advisor CBRE also advised VIG on the sale, which was completed on November 27, 2014.
The sales were completed on behalf of two groups of international investors, including: AIGA Investments (a Spanish real estate investment fund), Octava SA (a Polish real estate investment fund), and FCM Salamanca Global Property Fund 1 (an international real estate fund) in Jasna 26, and WN PWN SA and Augusta Ltd. in Libra Business Centre.
Artur Cieciera, Partner at Mermaid Properties, said: “We are delighted to have completed the sales process of our two leading office projects in Warsaw. The sale to VIG Fund is a great result and highlights the quality of our development work. As a result of this success, we would like to pursue similar projects in the future.”
Also commenting on the transaction, Mike Atwell, Head of CEE Capital Markets at CBRE said: “This acquisition is a very good combination of two high quality office assets in stable locations within Warsaw. The transaction confirms the liquidity of Warsaw City’s office market and supports the continuing strong demand from international investors. We are delighted to have advised Vienna Insurance Group in this transaction.”
Jasna 26 was converted by Mermaid Properties into pre-dominantly Class A offices, offering approximately 5,700 square meters of office space spread over 7 levels and 49 underground car parking spaces.
The Libra Business Centre opened at the beginning of 2013 and provides 16,000 square meters of Class A offices. Current tenants include Infovide-Matrix, Wydawnictwo Naukowe PWN, and Canon Polska.
The Schoenherr team working on the transaction was led by Partner Agata Demuth and included Attorneys Konrad Bisiorek and Jan Bagatela. Magnusson’s Partner on the deal was Michal Siwek, working with Partner Przemyslaw Kastyak and Legal Advisors Bartosz Debski, Agnieszka Gawrzyal, Norbert Gawor, and Advocate Trainee (aplikant adwokacki) Zuzanna Wencel-Czuryszkiewicz. Siwek commented: “We are proud that Mermaid Properties Group entrusted us a transaction concerning its major office projects in Warsaw, entailing complex legal aspects related to a portfolio sales of two separate office projects. The sale of this portfolio is another milestone on the long list of our experience in real estate transactions.”
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