Radovanovic Stojanovic & Partners and Cerha Hempel have advised AIK Banka, Gorenjska Banka, and Agri Europe Cyprus on their acquisition of Sberbank Europe’s shares in six CEE banks. Noerr advised the buyers on Hungarian law, while Maric & Co, Zuric and Partners, Tos & Partners, and Egorov Puginsky Afanasiev & Partners reportedly advised the buyers on Bosnian, Croatian, Slovenian, and Russian matters, respectively.
JPM Jankovic, Popovic, Mitic, working with Rojs, Peljhan, Prelesnik & Partners and Prebanic & Jusufbasic-Goloman, has advised DuluxGroup on its EUR 194.5 million acquisition of Jub. Jadek & Pensa advised the shareholders of Jub on the deal. Kinstellar and Bogdanovic, Dolicki & Partners have, reportedly, also advised the buyer.
On June 23, 2021, the lower chamber of the Parliament of the Federation of Bosnia & Herzegovina, the House of Representatives, passed a decision instructing the Government to “analyze the existing legal framework in relation to the construction of small hydroelectric power plants and to initiate the parliamentary procedure of amending the existing laws in order to protect the rivers and the environment.” Such a broad and generic decision comes after months of campaigning by several NGOs, supported by local and Hollywood celebrities, aimed against the construction of SHPPs on Bosnian rivers, citing environmental concerns.
The Parliament of Federation of BiH adopted the amendments of the Company Law of Federation of BiH and the amendments have been published and entered into force on 23 September 2021. The amendments of the Law are aimed at achieving the goal set in the Reform Agenda of Federation of BiH related to simplification of the procedure for registration of business entities and setting up a one-stop-shop company registration system.
Up until the adoption of the Laws on Property Rights in Republika Srpska (in 2008) and in the Federation of Bosnia & Herzegovina (in 2013), the only legal basis to obtain a construction permit and erect a lawful building was to first acquire ownership over the land on which the building is to be constructed, usually through a purchase agreement, as, according to the provisions of the applicable Laws of Physical Planning, as well as the general legal framework of Bosnia and Herzegovina, an investor must obtain construction rights over real property to obtain a construction permit for that property.
Indirect Taxation Authority of Bosnia and Herzegovina (“ITA”) conducts, among other, the registration of the taxpayers for Value Added Tax (“VAT”) purposes in Bosnia and Herzegovina. Pursuant to the applicable Value Added Tax Act of Bosnia and Herzegovina, there are two types of registration: (i) obligatory – in case the turnover in previous year exceeds or is likely to exceed the amount of BAM 50,000 and (ii) voluntary.