In The Corner Office we ask Managing Partners across Central and Eastern Europe about their unique roles and responsibilities. The question this time around: What major initiative or new plan does your office (or firm) plan – if any – for 2020?
Love them or hate them, conferences are a fundamental part of the successful commercial lawyer’s calendar. But time is precious. Those calendars are full. It’s vital for conference organizers to get them right, and critical for lawyers to choose wisely in determining which events to attend and which to skip.
In December 2013 and (for one bank) in 2014, the Bank of Slovenia – the Slovenian central bank –imposed various extraordinary measures on six Slovenian banks. These measures resulted in a comprehensive bail-in and the termination of not only all the shares in each bank but also all subordinated financial instruments issued by them.
On 25 March 2020, the Government of Slovenia announced a EUR 2bln rescue package intended to mitigate the adverse and diverse effects of the COVID-19 pandemic. The package primarily seeks to maintain jobs by providing pay check support and tax relief to employers and introducing additional mechanisms to reduce the liquidity shock on businesses.
“The new Slovenian Prime Minister was elected by the National Assembly on March 13th, just as the crisis was picking up in this part of Europe,” says Uros Cop, Managing Partner at Law Firm Miro Senica and Attorneys, in Ljubljana. “Fairly quickly, the new Prime Minister formed a team of ministers, which was confirmed the following week by the Parliament – we were in luck that this process went smoothly.“
In The Corner Office feature of CEE Legal Matters we ask Managing Partners at leading law firms across Central and Eastern Europe about their unique roles and responsibilities. In light of current events, the question for this online occurrence of the feature is: "How are you managing your team working remotely during this challenging period?"
On December 29, 2019, CEE Legal Matters reported that Selih & Partnerji had advised Supernova on its EUR 220 million acquisition of seven shopping malls and five smaller shopping centers from Centrice Real Estate. Johannes Wurzer, Head of Mergers & Acquisitions at Supernova, spoke with us about the deal.
Slovenian national air-carrier Adria Airways is one of many European airlines that filed for bankruptcy in 2019. While passengers with planned trips and prepaid tickets were left to their own ingenuity, the Slovenian Government worried about the effects of Adria Airways’ bankruptcy on Slovenia’s air traffic and important airline connections from Ljubljana Airport to other important cities and regions.
“We had an interesting turn of events last week as our Prime Minister stepped down,” says Mia Kalas, Partner at Selih & Partnerji in Slovenia. “Previously, we had an ambitious government which began the tax reform and also had ambitious plans for a healthcare reform, but now this will very much slow down.”
The recent upturn of the Slovenian real estate market has yielded a raft of new logistics projects and residential developments, as well as substantially increasing the scope and number of retail real estate transactions. A significant share of Slovenian retail properties changed hands, mostly as a consequence of the financial or organizational restructuring of the previous holders. This opened the market to both institutional and strategic investors.