Serbia Invites Bids for EUR 1.82 billion NPL Portfolio

Serbia's Deposit Insurance Agency has invited bids for the sale of a non-performing loan (NPL) portfolio of EUR 1.82 billion, was announced by the Finance Ministry. Investors can submit letters of interest by 8 November 2019 and the deadline for placing non-binding bids expires on 2 December 2019. The deadline for submission of binding offers is 15 April 2020.

Financing Agreements for the Vinča Waste-to-Energy PPP Signed

Financing agreements for the waste management public-private partnership project in Vinča, Belgrade were signed in the beginning of October. The project has a total investment size estimated at approximately EUR 350 million, envisaged to be financed by equity and non-recourse debt from IFIs – EBRD, IFC and OeEB. This is one of the largest and certainly the most complex project financing schemes in Serbia up to date. It is supposed to resolve the environmental hazard caused by one of the largest dump sites in Europe. BDK Advokati, alongside Clifford Chance as the international legal advisor, advised EBRD, IFC and OeEB on the project.

KG Law Firm's Vicky Kriketou - Speaker at the Compliance and Transparency Conference for Life Sciences

Kyriakides Georgopoulos Law Firm’s counsel, Vicky Kriketou participated as a speaker at the Compliance and Transparency Conference for Life Sciences, which was held on 26th and 27th September 2019 in Amsterdam. The conference gave recognition to the best practices and offered a platform for open discussion and exchange of ideas on how to overcome the present-day challenges that compliance professionals in the life sciences industry are facing. Vicky contributed to the conference with a presentation on “Life Sciences Litigation and Risk Management”.

State Aid: European Commission Approves EUR 300 Million Public Co-Finance for the Greek Ultrafast Broadband Scheme

According to the Digital Economy and Society Index 2019 (DESI 2019), Greece ranks 26th amongst EU countries in fast broadband coverage per household. In particular, only 66% of homes have access to fast internet of above 30 Mbps, far below the EU coverage of 83%, and less than 1% have access to ultrafast broadband of at least 100 Mbps. The European Commission has recently approved as compatible State Aid €300 million of public support for Greece's Ultrafast Broadband Infrastructure Scheme (publication of decision pending - case number SA.53135). The scheme will bring ultrafast broadband services to approximately 2.400.000 customers in areas with insufficient connectivity in Greece.

BDK Advokati Holds a Seminar on Data Processing in the Workplace

Milica Basta, senior associate at BDK Advokati, has held a seminar on the processing of personal data in the employment context for the representatives of Serbian companies. The event took place on 26 September 2019 in Belgrade and was hosted by Forum Media.

The SEE Legal Member Firms Top-ranked by IFLR1000 2020

All ten SEE Legal member firms are highly ranked individually in the 2020 edition of the International Financial Law Review 1000. In total 22 Tier 1 ratings were received by the ten members of the Group, including the following areas of law Financial and corporate, Project development, Banking and finance, M&A, Capital markets, Capital markets: Debt, and Capital markets: Equity.

SEE Legal Energy & Renewables, Utilities & Natural Resources Practice Group at the Vienna Forum on European Energy Law

The SEE Legal energy partners, Armela Lippmann (Maric & Co), Alexander Chatalbashev (BOYANOV & Co.) and Dragoljub Cibulic (BDK Advokati) attended the 7th Vienna Forum on European Energy Law, organised by the Energy Community on 19-20 September 2019 in Vienna.

The Second Round of Technology Specific (PVs & WPs) RES Tenders for 2019

The next round of two technology specific tendering processes for wind (WP) and photovoltaic (PV) parks of capacities of 287,11 and 225,45 MW respectively, are set for 12 December 2019. The applications are to be submitted until 4 November 2019.

New Data Protection Law Discussed at the Serbian Chamber of Commerce

Bogdan Ivanisevic, partner at BDK Advokati, spoke on 23 September 2019 about Serbia’s new Data Protection Act to representatives of the leading Serbian companies. The event took place in the packed conference hall of the Serbian Chamber of Commerce. The Chamber co-organised the event with the Ministry of Justice.

SEE Legal Banking and Finance Practice Group Visited Frankfurt

Twelve SEE Legal banking and finance partners representing the 10 law firms and 12 SEE jurisdictions attended meetings with colleagues of some of the largest international and local German law firms on 17-19 September 2019 in Frankfurt.

Greece Enters Officially the GDPR Era by Implementing Law 4624/2019

Greek Parliament finally adopted the long-awaited New Data Protection Law 4624/2019 “on the Greek Data Protection Authority, the implementation of Regulation 2016/679 and the transposition of Directive 2016/680” (Government Gazette A/137/29.08.2019). The territorial scope of the new Law extends to Greek Public authorities, as well as private entities, which either: i. have an establishment in Greece or ii. process personal data within the territory of Greece or iii. process personal data of Greek citizens. Such new Law, structured mainly on the German Data Protection Law (DSAnpUG-EU) aims to adapt Greece's current data protection law to the General Data Protection Regulation (GDPR) by making use of opening clauses in order to complement the GDPR, to transpose the Law Enforcement Directive into Greek law and to regulate the establishment and functioning of the competent supervisory authority.

Capital Controls: The Last Act

The Greek Government proceeded to the lifting of the remaining capital controls restrictions as a bold sign to international markets that Greece is now back to normality while aiming to enhance the positive trends on the investment climate following the recent change in government.