Mandatory Insurance Against Natural Disasters: Latest Amendments
December 2024
Konstantinos Issaias, Partner, Zaphirenia Theodoraki, Senior Associate, and Vasilianna Karakatsani, Associate
Kyriakides Georgopoulos Law Firm
On December 5th, 2024, Law 5162/2024 was published, introducing significant amendments to Law 5116/2024 concerning mandatory insurance against natural disasters.
The amendments are two-fold: On the one hand the scope of mandatory insurance against natural disasters is extended to include smaller-scale businesses, while, on the other hand, mandatory private insurance against natural disasters is introduced for the first time for private-use…
BDK Advokati Advises Waberer’s International on the Acquisition of MDI
October 2023
Waberer’s International acquired a 55% shareholding in Serbian company MD International (MDI), with an option to acquire the remaining 45%. The purchase price was not disclosed.
Waberer’s is the largest road transport company in Hungary and one of the largest road freight transport companies in Europe, operating a fleet of 3,500 trucks. It has a presence in Belgium, Germany, France, Italy, the Netherlands, Poland and the UK.
MDI has positioned itself as a significant player in Serbia’s distribution industry, with brands such as Henkel, Vileda, Wilkinson Sword, and Pionir.
The…
BOYANOV & Co. Law Firm Advised NN Group on the Sale of its Bulgarian Pension and Life Insurance Businesses
30 July 2021
BOYANOV & Co. acted as local counsel for NN Group on the sale of its Bulgarian pension and life insurance businesses to DZI – Life Insurance, part of KBC Group (the “Transactions”).
BOYANOV & Co. advised on the deal structuring, negotiations, signing of the agreements, pre-closing, and closing support. The Transactions involved the first-ever transfer of insurance business of a foreign branch as a going concern in Bulgaria which posed specific regulatory, corporate, and administrative challenges.
The Transactions were successfully closed today after completing the…
Polenak Law Firm Welcomes New Partner Tanja Polenak
Polenak Law Firm is pleased to welcome Tanja Polenak as a new partner who will be leading the firm’s employment and collection practice. Both Polenak Law Firm and the SEE Legal Group wish Tanja a warm welcome.
An accomplished legal professional, Tanja has nearly 25 years of experience in the legal practice, 12 years in the Court of Appeals Skopje and 12 years as Head of the Legal Department at Eurolink Insurance Skopje.
Her expertise assures valuable contribution to Polenak Law Firm team’s dedication to maintaining a high standard of practice and competent service to clients.
Kristijan Polenak Interviewed by Lawyer Monthly Magazine
olenak Law Firm’s managing partner, Kristijan Polenak talks about GOFI SA's sale of Eurolink Osiguruvanje AD Skopje to Grazer Wechselseitige Versicherung Aktiengesellschaft (GRAWE) in the July issue of Lawyer Monthly magazine.
Polenak Law Firm Advised Eurolink Osiguruvanje AD Skopje in an M&A Transaction
Polenak Law Firm had a great and rare opportunity to act in an M&A transaction during the COVID-19 crisis.
HCC RunDown 2019
The Hellenic Competition Commission’s (HCC’s) investigatory activity during 2019 was marked by the biggest Dawn Raid carried out to date by HCC’s officials in the banking sector. HCC officials carried out successive unannounced ex officio investigations at the premises of a number of banks and banking associations triggered by complaints filed by market players supporting that the four systemic banks under investigation are alleged to have been involved in anti-competitive horizontal agreements in the provision of banking and payment services.
Sale of Life Insurance Company NLB Vita (late phase)
Upon requirement of the European Commission, NLB bank has to sell its half stake in the life insurance company NLB Vita d.d. due to the State's failure to fulfill the bank rehabilitation obligations (untimely privatisation of NLB).
Ongoing Restructuring of the Large State-owned Enterprises
The ongoing restructuring of the large state-owned enterprises in Serbia may lead to further transactions.
New Health-related Legislation in Serbia
BDK Advokati's Associate Zorana Brujic provides an insight into the implications of the new Health Protection Act in Serbia.
The new Health Protection Act (Zakon o zdravstvenoj zaštiti "Official Gazette of RS", no. 25/2019) and Health Insurance Act (Zakon o zdravstvenom osiguranju "Official Gazette of RS", no. 25/2019) have come into force on 11 April 2019.
Software Group to Obtain an Investment Loan from the European Investment Bank
The global technology company Software Group signed an agreement with the European Investment Bank to obtain an investment loan of EUR 18 million. The European Investment Bank chose Bulgaria to fund a project with money from the European Strategic Investment Fund. Funding will be used in two areas - R&D and Innovation, Business Development and Marketing. Over the next three years, the company will focus on developing new technologies, platforms and products in the field of insurance, factoring and Internet of Things (IoT).
Selih & Partners Advise Coface on the Aquisition of SID-PKZ
On 6 September, 2018, Coface (Compagnie Française d'Assurance pour le Commerce Extérieur) signed a binding agreement with SID Bank, a Slovenian public bank, to acquire 100% of SID-Prva kreditna zavarovalnica (SID-PKZ)'s capital, a credit insurance subsidiary of SID Bank.
Selih & Partners' team, led by partners Nataša Pipan Nahtigal and Jera Majzelj, is proud to have been advising Coface on this deal.
The acquisition of SID-PKZ is now subject to usual conditions precedent including regulatory approvals which are expected to be issued in the coming months.
Coface Group with its 4,300 employees…
