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R. Macedonia


Banking Law

  • The most experienced law office in establishing private banks:

    • Eurostandard Bank;
    • Pro Credit Bank.
      Permanent local counsel of Export and Credit Bank AD Skopje and Makedonska Banka AD Skopje in:
      • litigation and collection matters;
      • preparation of loan documents and security,
      • corporate and shareholders’ issues.
      • Permanent local counsel of LBIS DOOEL Skopje, first and biggest leasing company in Macedonia.
      • Advised in share transfers and privatizations of banks:
        • advised the EBRD and the IFC in the largest bank acquisition for 45 million Euro - Stopanska Banka AD Skopje;
        • advised the Sellers in the sale of the majority stake of Kreditna Banka to Alpha Bank SA from Greece,
        • advised the EBRD in the acquisition of shares in Komercijalna Banka AD Skopje,
        • advised in the foreclosure procedure against shares issued by Tutunska Banka AD Skopje.
          Ad hoc counsel for several foreign banks, such as:
          • UBS SA Switzerland;
          • ING Bank N.V. Vienna branch;
          • Standard Bank London Limited,
          • Eksportfinans ASA of Oslo.
          • Regularly advises on financing Macedonian companies:
            • the EBRD;
            • the IFC;
            • the World Bank.
            • Counsel to the SME Commercial Finance Fund created by USAID and Crimson Capital Fund;
            • Engaged by Raytheon Aircraft Credit Corporation for a leasing transaction with the Government of Macedonia;
            • Engaged by Cessna Aircraft Company for a sale transaction with the Government of Macedonia;
            • Assisted in the creation of the insurance company EUROLINK AD Skopje;
            • Assisted the biggest pharmaceutical company in Macedonia AD Alkaloid Skopje in a 17.4 million Euro convertible loan transaction with the EBRD and IFC;
            • Deals with procedures at:
              • the Central Bank
              • central securities depository
              • Securities and Exchange Commission
              • Ministry of Finance.

              Bankruptcy

              • have amassed substantial experience in bankruptcy law and bankruptcy proceedings,
              • represent foreign creditors against several Macedonian companies.

              Company Law

              • act as permanent counsel with day to day activities for clients such as

                • Makstil AD Skopje, a steel producer,
                • Mobimak AD Skopje, first mobile telecommunications operator,
                • FHL Mermeren Kombinat AD Prilep, biggest marble producer in the country,
                • Makedonijaturist AD Skopje, biggest chain of hotels in the country,
                • Insurance company Eurolink AD Skopje,
                • Hertz Macedonia,
                • Alkaloid AD Skopje, biggest pharmaceutical producer in the country.
                  advise on acquiring other companies or estates in privatisation or at the stock exchange, as well as on divisions and mergers,
                • established two banks
                  • Eurostandard Bank AD Skopje in 2001
                  • Pro Credit Bank AD Skopje 2003.
                    assisted in the creation of the first leasing company in Macedonia LBIS DOOEL Skopje, a subsidiary of LB Interfinanz AG from Zurich. 

                  Competition Law

                  • first lawyers engaged in proceedings at the Monopoly Administration,
                  • advised Philip Morris Skopje and its distributors in administrative procedures at the Monopoly Administration.

                  Criminal & Administrative Law

                  • defended

                    • 32 homicide cases,
                    • 1,000 major traffic accidents,
                    • many financial criminal acts.
                      represented clients with administrative agencies.

                    Energy, Utilities & Natural Resources

                    • Assist in pre-privatization of the Power Supply Company;
                    • Assisted in the presentation and implementation of legislation regulating all issues surrounding the construction and use of pipelines;
                    • Local counsel to FHL Kiriakidis Marbles from Greece in the process of acquisition of Mermeren Kombinat AD Prilep in 2001, biggest marble producer in the region, including:
                      • the implementation of the mining law,
                      • concession rights on mines and land, and
                      • protection of concession rights and expropriation rights. 

                      Finance

                      • The most experienced law office in establishing private banks:
                        • Eurostandard Bank;
                        • Pro Credit Bank.
                          Permanent local counsel of Export and Credit Bank AD Skopje and Makedonska Banka AD Skopje in:
                          • litigation and collection matters;
                          • preparation of loan documents and security,
                          • corporate and shareholders’ issues.
                          • Permanent local counsel of LBIS DOOEL Skopje, first and biggest leasing company in Macedonia.
                          • Advised in share transfers and privatizations of banks:
                            • advised the EBRD and the IFC in the largest bank acquisition for 45 million Euro - Stopanska Banka AD Skopje;
                            • advised the Sellers in the sale of the majority stake of Kreditna Banka to Alpha Bank SA from Greece,
                            • advised the EBRD in the acquisition of shares in Komercijalna Banka AD Skopje,
                            • advised in the foreclosure procedure against shares issued by Tutunska Banka AD Skopje.
                          • Ad hoc counsel for several foreign banks, such as:
                            • UBS SA Switzerland;
                            • ING Bank N.V. Vienna branch;
                            • Standard Bank London Limited,
                            • Eksportfinans ASA of Oslo.
                          • Regularly advises on financing Macedonian companies:
                            • the EBRD;
                            • the IFC;
                            • the World Bank.
                          • Counsel to the SME Commercial Finance Fund created by USAID and Crimson Capital Fund;
                          • Engaged by Raytheon Aircraft Credit Corporation for a leasing transaction with the Government of Macedonia;
                          • Engaged by Cessna Aircraft Company for a sale transaction with the Government of Macedonia;
                          • Assisted in the creation of the insurance company EUROLINK AD Skopje;
                          • Assisted the biggest pharmaceutical company in Macedonia AD Alkaloid Skopje in a 17.4 million Euro convertible loan transaction with the EBRD and IFC;
                          • Deals with procedures at:
                            • the Central Bank;
                            • central securities depository;
                            • Securities and Exchange Commission,
                            • Ministry of Finance.

                          Foreign Investments

                          • advised in the largest foreign investment in Macedonia – the acquisition of a majority stake in Macedonian Telecom,
                          • advised the EBRD in the privatization of two banks
                          • advised Duferco SA from Switzerland in the acquisition of a majority stake in the steel mill in Skopje – Makstil AD Skopje,
                          • advised FHL Kiriakidis Marbles SA from Greece in the acquisition of Mermeren Kombinat AD Prilep,
                          • advised the Seller in the sale of a majority stake in Kreditna Banka AD Skopje to Alpha Credit Bank AG from Greece.

                          Insurance Law

                          • advised the Macedonian Privatization Agency in the sale of its stake in the biggest insurance company in Macedonia,
                          • counsel to the shareholders of Eurolink AD Skopje, a new insurance company on the market with Swiss capital,
                          • established the insurance company Eurolink AD Skopje.

                          Intellectual Property

                          • represent clients in the procedures for creation and protection of intellectual property rights at the IPPO - Skopje, the Monopoly Authority, and other governmental authorities and institutions,
                          • represent foreign multinational companies in the court procedures for protection of intellectual property rights from infringement by domestic entities.

                          Litigation & Arbitration

                          • established litigation practice in civil and criminal cases,
                          • defended more than 1,000 criminal cases,
                          • Nikola Polenak is appointed a judge in the Permanent Court of Arbitration in Hague.

                          Privatization

                          • assisted in the privatization process in Macedonia from the very beginning,
                          • advised and solicited buyers in the privatization of the major companies and banks in Macedonia
                            • local counsel of the buyers in the privatization of Stopanska Banka AD Skopje,
                            • advised the Seller in the acquisition of Kreditna Banka AD Skopje,
                            • advised the EBRD in the acquisition of Komercijalna Banka AD Skopje.
                          • local counsel to the government in the largest foreign investment in Macedonia – the sale of the majority stake in the Macedonian Telecommunications AD Skopje to MATAV Rt. from Hungary, member of Deutsche Telecom group
                          • acted as legal counsel to the Macedonian Privatization Agency.

                          Property Law

                          • prepares property advice on a range of matters and various business requirements, such as
                            • buying and selling property,
                            • construction and mining requirements,
                            • corporate assets,
                            • collateral,
                            • creation and enforcement of mortgages and pledges.
                          • provides services in
                            • obtaining title documents from the central registry,
                            • drafting purchase agreements and registrations.

                          Public Procurement

                          • experienced in administrative procedures for challenging tender procedures

                          Taxation

                          • represent clients in administrative cases in connection with taxes against among others
                            • the tax authority,
                            • customs office,
                            • ministries,
                            • governmental agencies.

                          Telecommunications & Media

                          • Registered the first mobile telecommunication operator in Macedonia Mobimak AD Skopje;
                          • Advised the Seller in the biggest foreign investment deal in Macedonia – the sale of Macedonian Telecom;
                          • Counsel to the Seller in the sale of two daily newspapers to WAZ media group;
                          • Outside counsel to:
                            • Mobimak AD Skopje;
                            • local TV and radio station;
                            • weekly magazine.
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