NSTLAW provided assistance to the EBRD in preparing the Business Re-organisation Assessment for Montenegro.

This assessment focusses on the re-organisation procedure according to Montenegrin legislation. In this way the Bank and investors are informed about what they can expect when investing on a company in reorganization. According to the assessment, average duration of business reorganization in Montenegro is from six to nine months. Further, according to the data available from the website of the Commercial Court in 2020 there were 437 initiated bankruptcy proceedings, while there is no indication of the number of initiated re-organisation proceedings.

For more information please visit https://www.ebrd-restructuring.com/

NSTLAW advised the Rustler Group and its Serbian affiliate Hauzmajstor d.o.o. as well as local management on its Corporate Restructuring where manager entered the ownership structure of Hauzmajstor d.o.o.

The deal comprised of an existing Executive Director purchasing an equity interest in the company from its Austrian investors, new Corporate Governance and Shareholders Agreement.

Hauzmajstor d.o.o. is a real estate company managing assets of € 2.5 billion and one of the pioneers in the field of property facility management. Hauzmajstor d.o.o. is member of the well-known Austrian Rustler group. The Rustler Group is one of Europe’s main real estate service providers, boasting a turnover over € 50 million, an estimated € 10 billion of assets under management and more than 500 employees.

NSTLAW continues to provide legal support post deal and advises high net worth individuals and families worldwide with the accumulation, management, transfer and protection of personal wealth.

The team was led by Luka Marosiuk, Associate.

NST LAW strengthened by addition of Tijana Milisic as a Junior Associate. Prior to joining the firm, she worked for another reputable law firm in Belgrade. Tijana is the qualified lawyer for more than 3 years and she will strengthen the Corporate and Data Protection team in particular.

The  International Chamber of Commerce Young Arbitrators Forum is hosting a webinar on 16^th  December 2021 at 4 p.m. CET. This session will be moderated by our own Sara Pendjer who has also received recognition as a arbitration future leader – non partner, by who is who.  The webinar will discuss opportunities in Eastern Europe relating to international arbitration. Registration is free of charge, but pre-registration is required. More details can be found on the following link.

We are proud to share that Who is who recognized our colleague Sara Pendjer as arbitration future leader, non – partner for a second time.

The whole list can be found on the following page.

Belgrade was the host city of the largest regional HR conference last week. The five-day program organized by HR World had more than 150 speakers and 4,000 participants from around the world. This virtual event included inspiring input on topics such as strategic HR, people-centric HR, digital HR, HR development and C-suite day, when top management and HR experts provided their people management experience and stories.

During this time of constant change, the event was an excellent opportunity to share experiences and discuss possible solutions as all businesses face similar obstacles. Companies need to respond to market demands, pandemic related issues, and more than ever we do business using mainly online platforms. One of the main takeaways from this conference was how important it is for any organization to adapt swiftly and efficiently to change. The constant focus on the development and wellbeing of employees is the key part of the overall success and stability of the business. Irrespective of whether the business is goods or services, overall performance depends on its people. Renowned author and expert in management studies, Professor Henry Mintzberg explained how management positions did not automatically imply leadership skills. He stated that we become leaders only when there is a group of people ready to follow us and work together towards mutual goals.

The role of the leaders is constantly increasing as explained by Dejan Cvetkovic, CTO of the Microsoft Development Center in Serbia, who spoke about the importance of the initial motivational speech by the team leader, where employees are presented with the project or company vision and mission, and they contribute with their ideas. In this way, employees find their place and greater meaning in their work.

NST Head of HR Ljiljana Madzarevic attended the event as a member […]

The Energy Investment Risk Assessment (EIRA) Report is a publication of the Energy Charter Secretariat that evaluates policy, regulatory and legal risks relevant to investment in the energy sector.

It assists governments to identify and eliminate risks in their regulatory and legal environment which impede the inward flow of investments. It is of essential value for modern states and governments in terms of planning and inducing of investments in the energy sector.

This assessment provides profoundly selected and analyzed information, which tend to comprehend foresight policy, management of decision-making process and future regulatory changes.

We are glad and honored that we have taken a part in making of this assessment related to energy investment situation in Montenegro. This was a unique chance for us to show that legal field is not only closely related to regulatory and laws, but that it also includes anticipation, creative assessments and wide range of knowledge collected from the other business fields.

NBA MVP Nikola Jokic has become the official promoter of Jelen pivo (Jelen beer), the best selling product of NSTLAW client Apatinska pivara Apatin (Member of Molson Coors).

Andjelka Radovanovic and Jelena Zivkovic advised on the Agreement and are proud to be part of this amazing project.

Cheers!

On 18 September 2021, Sara Pendjer, attorney at law from our law office, participated as a panelist at the Summer School of International Arbitration, organized by the International University of Sarajevo Faculty of Law in partnership with Association Arbitri. The panel composed of Tamara Manasijevic (Andreas Reiner law office, Vienna), Nevena Jevremovic (Honorary Lecturer at the University of Aberdeen, School of Law) and moderator Boris Prastalo (Assistant Professor at International University of Sarajevo) discussed the Future of Arbitration in South-East Europe: A Perspective of New Kids on the Block. In an hour and a half lecture, students had the opportunity to hear how to kick off an arbitration career, what should be done, apart from office work, in order to build successful career in arbitration, what perspectives and challenges that entailed in South East Europe, etc. These conversations also dealt with the ways to best present the option of arbitration to the clients that would benefit from it, and who plays pivotal role in arbitration.

On 04 June 2021, the European Commission has adopted a new set of standard contractual clauses for the transfer of personal data to third countries pursuant to the Regulation (EU) 2016/679 of the European Parliament and of the European Council – General Data Protection Regulation (hereinafter: “GDPR“).

The adoption of new standard contractual clauses was inevitable, taking into consideration the fact that the previous set of standard contractual clauses was adopted before the adoption of the GDPR in 2016 (Regulation (EU) 2016/679), during the application of the Data Protection Directive (Directive (EC) 95/46) and the fact that more than 25 years have passed since their adoption, during which an accelerated development of technology happened, followed by the improvement of the way personal data is being collected.

A novelty, which appears within the nature of the new standard contractual clauses, is the fact that they can be used completely or partly as a model contract on the processing of personal data or other legal act by which the subjects regulate their relationship.

The new standard contractual clauses also bring us a wider circle of subjects whose mutual relationship falls under their regulation. Namely, the old set of standard contractual clauses regulated only the relations between the controller and the controller located outside the territory of the EU/EC and the controller and processor located outside the territory of the EU/EC. Therefore, the new standard contractual clauses expand the circle of entities whose relations regulate the regulation of relations between processors and processors located outside the territory of the EU/EC (sub-processor) and processors and controllers located outside the territory of the EU/EC.

Taking into account that the new set of standard contractual clauses has been adopted, the fate of […]