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Schoenherr has advised an international banking consortium consisting of Societe Generale (technical lead), Danske Bank A/S, Landesbank Baden-Wurttemberg, and Landesbank Hessen-Thuringen Girozentrale as Joint Lead Managers on the successful issuance of a EUR 750 million fixed-rate mortgage covered bond by Vienna-based Erste Group Bank AG (closing date: January 19, 2016). The banking consortium was advised on German law matters (the bonds being governed by German law except for their status clause) by Allen & Overy, and Wolf Theiss advised Erste Group Bank on the issuance.

The bond was placed with institutional investors and listed on the Second Regulated Market of the Vienna Stock Exchange.

The Schoenherr team consisted of Partner Walter Gapp and Attorney-at-Llaw Stefan Paulmayer. The Allen & Overy team was led by Frankfurt-based Partner Christoph Enderstein and Associate Christoph Pohl. Societe Generale was further advised by in-house counsel Helmut Hofer. 

The Wolf Theiss team advising Erste Group Bank was led by Counsel Alexander Haas, as well as by in-house counsels Claudia Goggel-Fesl and Andrea Pontasch.

Long standing Partner and more recently Of Counsel Pekka Puolakka has re-joined the Sorainen partnership, and he will co-heading the firm’s Real Estate and Construction Teams in Riga (along with Partner Agris Repss) and Tallinn (with Specialist Counsel Urmas Volens), while continuing to manage cross-border M&A and corporate projects.

Puolakka joined Sorainen in 2004, and held the role of Sorainen Managing Partner from 2009-2014. He had previously been office Managing Partner at one time or another in Estonia, Latvia, and Lithuania.

Senior Partner Aku Sorainen commented that: “We are happy to welcome back a leader who contributed significantly to the development of our firm thanks to his enthusiasm, innovative thinking and dedication. We are looking forward to boosting our collaboration once again.”

Puolakka noted: “After having resolved and rebuilt businesses earlier managed by my late father I realized that my actual calling is to continue developing a highly professional law firm such as Sorainen. It is a privilege for me to keep growing with like-minded and intelligent people in Tallinn, Riga, Vilnius, and Minsk. I appreciate the opportunity to re-join this organization after a break caused by inescapable family reasons.”

In his new role, Puolakka will travel frequently between Riga and Tallinn. While he co-heads the Real Estate and Construction teams in those offices, in Lithuania the team will remain co-headed by Partners Ausra Mudenaite and Ksstutis Adamonis, and in Belarus by Office Managing Partner Kiryl Apanasevich.

Musat & Asociatii has announced it promoted two new Partners — Angela Mare and Paul Buta — along with further internal promotions of three lawyers to the Managing Associate level and eight to the Senior Associate level. It also announced that 15 lawyers have joined the firm in the last weeks, and confirmed the departure of four Partners — Miruna Suciu, Luminita Popa, Madelina Berechet, and Cleopatra Leahu — which, market sources confirmed to CEE Legal Matters, are taking a sizable team with them.

Both of the new Partners specialize in civil and commercial litigation, with Mare also focusing on administrative, capital markets, and PPP litigation, while Buta also focuses on competition and IP law. The three lawyers promoted to Managing Associate are Stefan Dudas and Dana Caciula-Stan — both specialized in commercial litigation and arbitration — and Bogdan Lamatic, who focuses on penal law and white collar crime. The newly promoted Senior Associates are Adrian Chirvase, Pompilia Doana, Adina Pulbere, Valeriu Solcanu, Ana Maria Teoc, Vincentiu Constantin, Ramona Carlig, and Dana Buscu. Among the 15 new lawyers who Musat claims have joined the firm in the last few weeks are Managing Associate Liviu Togan, Senior Associate Catalin Roman, and Associate Diana Dobromir, who joined together with 12 new Trainee Lawyers (“Avocati Stagiari”)

The hiring spree occurs concomitantly with the confirmed departure of Equity Partners Suciu, Popa, and Berechet, and Salary Partner Leahu. Suciu focused on mergers & acquisitions/privatization, banking & finance, capital markets & securities, energy & natural resources, and corporate & commercial law. Popa worked in the international arbitration, infrastructure & PPP/public procurement, energy & natural resources, and mergers & acquisitions/privatization practices. Berechet covered litigation & arbitration, infrastructure & PPP/public procurement, corporate & commercial law, taxation, and European law & human rights law. Lastly, Leahu worked on energy & natural resources, infrastructure & PPP/public procurement, mergers & acquisitions/privatization, and environment. 

While the firm did not comment on it, nor reply to CEE Legal Matters’ enquiry, market sources report that the departure of the four is part of a considerable team split, with up to 16 lawyers due to follow the Partners, who plan to set up a new law firm. 

Soltysinski Kawecki & Szlezak has advised Frutarom Ltd. on its acquisition of a 75% shareholding in Amco Sp. z o.o., a leading producer of spice mixes and functional blends for the food industry.

According to the firm, its advised included “legal and tax due diligence, negotiation of the transaction documents, assistance in the signing of the preliminary sale agreement, and the closing of the transaction on 11 January 2016.”

The SK&S team was headed by Partner Jan Jarmul, supported by Senior Associate Krzysztof Pawlak. Partner Slawomir Luczak was responsible for tax aspects of the project, assisted by Attorney at Law Szymon Czerwinski.

Ilyashev & Partners has successfully defended BTA Bank (Kazakhstan) in the International Commercial Arbitration Court (ICAC) at the Ukrainian Chamber of Commerce and Industry in six arbitrations regarding its enforcement on pledged items for loans granted by the Bank to Hendy Assets Limited.

Ilyashev & Partners reports that the ICAC recognized the Bank’s claim to ownership of property – consisting of “shares, stocks, property rights” – pledged as collateral for a USD 120 million loan.

According to a statement by the firm, the cases “were complicated by the fact that the debtor – Hendy Assets Limited, registered in the Republic of Seychelles – was liquidated, which made impossible imposition of enforced collection on the pledged items owned by the third parties – property surety providers.” To address this obstacle, Ilyashev & Partners filed suit in the Supreme Court of Seychelles, which was successful.

“The ICAC arbitrators understood these difficult cases perfectly,” commented Roman Marchenko, Senior Partner at Ilyashev & Partners. “Arbitration proceedings are the next step to effective compensation for damages caused by fraudulent acts committed in several countries by Mukhtar Ablyazov, a former shareholder of BTA Bank Kazakhstan, and his accomplices, totalling more than USD 10 billion.”

Eversheds Bitans has provided “full spectrum legal assistance” to the Vitol Group regarding its strategic investment in JSC Ventspils Nafta (VN) — which Eversheds Bitans describes as “the key oil terminal, pipeline, and shipping business in Latvia” — from JSC Latvijas Naftas Tranzits (LNT). LNT was reportedly represented by Spilbridge.

The transaction involved several interconnected steps which resulted in the acquisition of 100% of VN by Vitol Group member Euromin Holdings (Cyprus) Limited (“Euromin”) for approximately EUR 108 million, and the delisting of VN from the official list at Nasdaq Riga Stock Exchange. The delisting was completed on January 25, 2016.

According to Eversheds Bitans, the investment-related actions included:

(1)  the purchase of a 43.25% stake in VN from LNT for approximately EUR 80 million, which increased Euromin’s participation to 93.24% of the total voting capital of VN;

(2)  the exercise of a mandatory and final share buy-out bid and VN’s exit from the regulated market (for EUR 28 million EUR).

According to Eversheds Bitans, due to its complexity and value, Euromin’s strategic investment “is likely to qualify as Latvia’s largest M&A deal of 2015.”

Euromin’s Latvian legal team was led by Eversheds Bitans Senior Partner Maris Vainovskis, who was assisted by Toms Purins, Mikus Freimanis, and Elina Vilde.

When contacted by CEE Legal Matters, Spilbridge declined to comment.

Vladimir Radonjic, the former head of the Montenegro office of Harrisons, has established a new firm in Podgorica: Radonjic/Associates. Replacing Radonjic as Head of Office at Harrisons is Lana Vukmirovic-Misic.

Radonjic joined Harrisons in July 2011, having previously spent over 4 years with Prelevic Law Firm as an Attorney at Law. He told CEE Legal Matters that his new firm’s team consists of three qualified lawyers, one trainee lawyer, a Business Development Manager, and an Office Manager, all complemented by what he described as “signed agreements with a number of consultants having a great professional experience in various sectors such as energy, banking and finance, telecommunications, EU competition law, etc.”

Radonjic commented: “As a Founder and Managing Partner I can confirm that of our new firm will continue to be fully committed to its clients, help them to resolving their legal challenges and to navigate through all aspects of their investments and operations in Montenegro. Our young but well experienced team of lawyers will be looking to provide more efficient services and offer innovative ways to meet demands of our clients.”

Vukmirovic-Misic, the new Head of Office at Harrisons, has been with the firm since July 2010, when she too joined from Prelevic. Before joining Prelevic she was a Legal Advisor with the CEMI Center for monitoring between September 2005 and January 2007. When contacted by CEE Legal Matters, Mark Harrison, Managing Partner of Harrisons, commented: “After 4 1/2 years at our Podgorica Office, Vlado has decided to fulfill his ambition of setting up his own firm. We wish him well. It is now time for Lana Vukmirovic-Misic to take over as Head of the Office after over 5 years with Harrisons. Our strong position in Montenegro remains, with 6 permanent lawyers based there.”

Tuca Zbarcea & Asociatii has advised McDonald’s on the sale of its Romanian subsidiary, McDonald’s System of Romania, to Premier Capital, which was assisted on the deal by Musat & Asociatii.

The transaction, which was finalized on January 22, 2016, included a franchise agreement according to which the former Romanian subsidiary of McDonald’s, now owned by Premier Capital SRL (itself the Romanian subsidiary of Maltese Premier Capital plc.), will continue to operate the restaurants and use the McDonald’s brand — a developmental licensee concept previously implemented by McDonald’s with the Premier Capital group of companies in several other countries, including Malta, Greece, and the Baltic countries. McDonald’s in Romania adds 67 restaurants in 21 cities and a team of 4,000 people to Premier Capital’s portfolio. The deal was facilitated by BRD, which provided financing for the transaction.

Premier Capital Chairman, Melo Hili, commented: “Premier Capital is delighted to welcome the management teams and crew of McDonald’s in Romania to its ever-growing family. These are exciting times for us and we are all set to grow the business in Romania. Premier Capital brings 20 years of international operational and investment experience to this venture and we look forward to directing our efforts to the development of Romanian business and its people.”

Premier Capital Managing Director, Victor Tedesco, added: “With its population of 20 million, Romania presents enormous potential for growth. A sixth market allows us to identify more synergies and opportunities for collaboration across our footprint. Our priority is to expand our presence in all markets and a number of restaurants will be opened this year. We will continue to invest in modernizing the in-store experience for customers and ensuring that our staff receive consistent training and opportunities for personal development.”

The Tuca Zbarcea & Asociatii team included Partner Cornel Popa and Managing Associate Andreea Lisievici.

The Musat & Asociatii team advising Premier Capital on securing financing from BRD and on the transaction itself consisted of 9 lawyers, including Partners Razvan Stoicescu and Miruna Suciu, Managing Associate Bogdan Ghera, and Associates Adrian Danciu and Raluca Alexandru. The firm reports that it will continue to be involved in aspects related to the finalization of, and achieving necessarily conditions for, takeover operations. 

Image Source: Dinendra Haria / Shutterstock.com

On the 25th of January, 2016, following proceedings conducted in an open tender, Wierzbicki Adwokaci i Radcowie Prawni signed a contract to provide legal services to the Museum of Modern Art in Warsaw (MMA) regarding various investment projects, including — according to the firm — “the provision of permanent comprehensive legal services in relation to the activities of the Department for the Investment of the MMA, whose primary scope of tasks includes construction of a new MMA building in Warsaw and construction of temporary seat at the time of the target opening of the Museum building.”

The Wierzbicki team will be involved in “all matters connected with the activities, including those related to real estate, infrastructure, process design and construction of the new building, financing investments, relationships with MMA’s contractors acting on the basis of already signed contracts and contracts that will be concluded in a future relationship with the Capital City of Warsaw, the administrative authorities, etc.”

Image Source: artmuseum.pl

Klavins Ellex has successfully represented SIA Armgate — one of the leading suppliers of laboratory and science equipment in Latvia — in a dispute before the Procurement Monitoring Bureau over the results of a tender run by Latvia’s State Forensic Science Bureau (SFSB) for the supply of gas chromatographic substance systems for analysis of organic parts.

According to Klavins Ellex, the outcome of the case was positive and the Bureau granted Armgate’s request that the SFSB be prohibited from entering into a procurement contract with the selected tender winner, that the SFSB’s decision on tender be cancelled, and that the procurement procedure be stopped.

The Klavins Ellex team was led by Senior Attorney Maris Brizgo, the Head of the Klavins Ellex Public Procurement Practice Group.

Image Source: badins / Shutterstock.com